answer questions 1-6 if possible

1. What are the characteristics of assets, liabilities, and owners' equity, and how have they evolved over time? 2. Why is it difficult to define the basic accounting elements? 3. Why are asset and liability definitions important to the theoretical structure of accounting? Why are definitions important to policy-setting bodies? 4. Numerous attributes are measured in the balance sheet. What are the different attributes? Why is this practice criticized? 5. What do aggregated balance sheet totals represent? These balance sheet data are used for ratio analysis. How useful do you think any one financial ratio 13 Explain. 6. Multiple approaches have been advocated concerning the definition of accounu elements and the relationship between the balance sheet and income staten What are these approaches and how do they differ