'If we were to look only at the expenses and income … recorded in the income statement we would not get a full picture of all expenses and income that were recognised in the current period'.Explain what this statement means,and other items that need to be 'looked at'?

Question

Quizplus · Accepted Answer

The Answer of 'If we were to look only at the expenses and income … recorded in the income statement we would not get a full picture of all expenses and income that were recognised in the current period'.Explain what this statement means,and other items that need to be 'looked at'?

'If We Were to Look Only at the Expenses and Income