1.The following are examples of contra assets account except

A. Accumulated depreciation- Equipment

B. Accumulated Depreciation- Building

C. Bad debts expense

D. Allowance for bad debts

2.The elements of financial statements are:

I. Assets

II. Liability

III. Equity

IV. Income

V. Expense

A.) I,II,IV.V

B.) I,II,III

C.) IV, V, I

D.) I,II,III,IV,V

3.The elements of financial statements include:

1. Assets
2. liabilities
3. expenses
4. equity
5. income

A.) 1,2,3,

B.) 2,3,4,5,

C.)1,3,4,

D.) 1,4,5