Three approaches have been advocated concerning the, Accounting Basics

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Three approaches have been advocated concerning the

Question: 1. Three approaches have been advocated concerning the definition of accounting elements and the relationship between the balance sheet and income statement, What are the three approaches and how do they differ?

2. What is the meaning of "owners equity" in the balance sheet? Why are certain unrealized gains or losses included in owners equity?

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Accounting Basics: Three approaches have been advocated concerning the

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