The statements of comprehensive income of LMA Ltd for the years ending 31 December reveal the following information: Based on this information, which of the following statements is incorrect?
A) Profit has increased in Year 3 by 20% over Year 2, 66.7% from Year 1 to Year 2, and 50% from Year 1 to Year 3.
B) Profit in Year 3 has decreased from Year 2 and Year 1 for each sale made.
C) The information shows that in Year 2 management was more efficient in creating profits from the sale of goods compared to the other years.
D) Sales have increased in Year 3 by 33.4% over Year 2, 20% from Year 1 to Year 2, and 60% from Year 1 to Year 3.

Question

The statements of comprehensive income of LMA Ltd for the years ending 31 December reveal the following information:  Based on this information, which of the following statements is incorrect?
A) Profit has increased in Year 3 by 20% over Year 2, 66.7% from Year 1 to Year 2, and 50% from Year 1 to Year 3. 
B) Profit in Year 3 has decreased from Year 2 and Year 1 for each sale made. 
C) The information shows that in Year 2 management was more efficient in creating profits from the sale of goods compared to the other years. 
D) Sales have increased in Year 3 by 33.4% over Year 2, 20% from Year 1 to Year 2, and 60% from Year 1 to Year 3.

Quizplus · Accepted Answer

The Answer of The statements of comprehensive income of LMA Ltd for the years ending 31 December reveal the following information:  Based on this information, which of the following statements is incorrect?
A) Profit has increased in Year 3 by 20% over Year 2, 66.7% from Year 1 to Year 2, and 50% from Year 1 to Year 3. 
B) Profit in Year 3 has decreased from Year 2 and Year 1 for each sale made. 
C) The information shows that in Year 2 management was more efficient in creating profits from the sale of goods compared to the other years. 
D) Sales have increased in Year 3 by 33.4% over Year 2, 20% from Year 1 to Year 2, and 60% from Year 1 to Year 3.

The Statements of Comprehensive Income of LMA Ltd for the Years