Which of the following statements is a usefulness of the income statement? OA. Evaluate the past performance of the enterprise. OB. Income measurement involves judgment. OC Items that cannot be measured reliably are not reported. OD. Income numbers are affected by the accounting methods employed.

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter2: Financial Reporting: Its Conceptual Framework
Section: Chapter Questions
Problem 2MC: Which of the following is considered a constraint on useful information by Statement of Financial...
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Which of the following statements is a usefulness of the income statement?
A.
Evaluate the past performance of the enterprise.
O B.
Income measurement involves judgment.
OC
Items that cannot be measured reliably are not reported.
O D.
Income numbers are affected by the accounting methods employed.
Transcribed Image Text:Which of the following statements is a usefulness of the income statement? A. Evaluate the past performance of the enterprise. O B. Income measurement involves judgment. OC Items that cannot be measured reliably are not reported. O D. Income numbers are affected by the accounting methods employed.
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