Limitations of the Income Statement Include All of the Following

question 23

Multiple Choice

Limitations of the income statement include all of the following EXCEPT

• A) items that cannot be measured reliably are not reported.
• B) only actual amounts are reported in determining net income.
• C) income measurement involves the use of estimates.
• D) income numbers are affected by the accounting methods used.

---

Definitions:

Screen

A display device for a computer or mobile device that shows visual output to the user.

JavaScript

A programming language commonly used in web development to create interactive effects within web browsers, enhancing user experience.

Browser

An application designed to navigate, search, and display content from the World Wide Web.

Scripts

Written codes in various programming languages intended to be executed by an interpreter or a browser to perform specific tasks.