Which of the Following Is Not True Concerning Comparative Financial

question 34

Multiple Choice

Which of the following is not true concerning comparative financial statements?

• A) The comparative multi-step income statement includes subtotals which separate core and peripheral results.
• B) he comparative multi-step income statement includes the subtotal of income before income tax expense.
• C) The statement of stockholders' equity is another name for the statement of retained earnings.
• D) Comparative financial statements report numbers for two or more periods.

---

Definitions:

Just-In-Time Method

A production and inventory strategy that aims to reduce costs by receiving goods only as they are needed in the production process, minimizing inventory levels.

Inventory Levels

Inventory levels refer to the amount of goods or materials a company holds for the purpose of resale or production.

Total Manufacturing Costs

Total manufacturing costs encompass the sum of direct labor cost, direct materials cost, and manufacturing overhead costs incurred in the production of goods.

Direct Materials

Raw materials that are directly traceable to the production of specific goods.