How does the furniture's element effect actually work? (Well I suppose...?)

[jafferduo]

I always wonder of this. Is it increase the element attack when I use magic spell(or Lily's normal attack) of it? Or is it increase magic resistance of the element? Or something?

Edit: It seems that the effect is Thunder = Evasion; Water = Magic Attack Damage; Fire = Physical Attack Damage; Ice = Defense.
Is there really no other bonus on the four elements?

[Zarddin]

Just checked it and no. The more you stack one element the bigger the bonus.

From my testing it shows that Defense is the best one as it makes your whole party takes less damage and things like damage from attacks or spells go up when you level up.

Evasion and Defense does not go up with levels but Evasion is too random to be of any use.