Why should caution be exercised in the use of the net income figure derived in an income

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Why should caution be exercised in the use of the net income figure derived in an income statement? What are the objectives of IFRS in their application to the income statement?

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Intermediate Accounting

ISBN: 978-0470873991

IFRS Edition

Authors: kieso, weygandt and warfield.

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Question Posted: Dec 15, 2011 08:23 AM

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Why should caution be exercised in the use of the net income figure derived in an income

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Caution should be exercised because many assumptions and estimates are made in accounting ...View the full answer

Intermediate Accounting

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