Which of the Following Statements Concerning the Income Statement Is

question 22

Multiple Choice

Which of the following statements concerning the income statement is true?

• A) The income statement is only used internally by the owners.
• B) The characteristics that sometimes make the income statement hard to understand also provide temptation to "fudge" the numbers.
• C) The income statement is also called the statement of financial position.
• D) Values listed on the income statement are historical values.

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