Which of the Following Presentation Formats Is Permitted by Statement

question 24

Multiple Choice

Which of the following presentation formats is permitted by Statement of Financial Accounting Standards No.130,"Reporting Comprehensive Income"?
I.A single statement of income and comprehensive income.
II.Two statements of income,a traditional income statement ending with net income,and a second statement beginning with net income,all the elements of comprehensive income,and a total of comprehensive income.
III.Within the statement of changes in stockholders' equity.

• A)Only I
• B)I and III
• C)I and II
• D)I, II, and III

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Definitions:

Indorse

Indorse is an alternative spelling of endorse, typically referring to the act of signing the back of a negotiable instrument to make it payable to someone other than the designated payee.

Unattached Piece

A component or part that is not connected or associated with the main body or structure to which it could belong.

Federal Trade Commission (FTC)

A U.S. federal agency established to protect consumers and promote competition by preventing anticompetitive, deceptive, and unfair business practices.

Holder In Due Course Rule

A legal principle that protects the holder of a negotiable instrument from claims and defenses that could be raised against the original party.