A. Using the letters above, identify all of the financial statement elements that describe levels or amounts of resources or claims to or interests in resources at a moment in time.

Asset

Liability

Equity

B. Using the letters above, identify all of the financial statement elements that describe effects of transactions and other events and circumstances that affect an entity during intervals of time (periods).

Investments by owners

Distributions to owners

Comprehensive income

Revenue

Expense

loss Gain