Earnings per share must be reported on the face of every income statement that is
A)Prepared in accordance with generally accepted accounting principles.
B)Prepared in accordance with the National Association of State Boards of Accountancy standards.
C)Prepared in accordance with ethical standards set by the American Institute of Certified Public Accountants.
D)Prepared in accordance of the federal government.

Question

Quizplus · Accepted Answer

Earnings per share is a required financial measure under generally accepted accounting principles (GAAP) and must be reported on the face of every income statement prepared in accordance with GAAP. The National Association of State Boards of Accountancy, ethical standards set by the American Institute of Certified Public Accountants, and the federal government do not require this specific reporting requirement.

Earnings Per Share Must Be Reported on the Face of Every