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 judgment.
D)income numbers are affected by the accounting methods employed.

Question

Quizplus · Accepted Answer

The income statement can include estimates and projections in addition to actual amounts.

Limitations of the Income Statement Include All of the Following