Question: FASBs conceptual framework explains both financial and physical capital maintenance concepts. Which capital maintenance concept is applied to currently reported net income, and which is

FASB’s conceptual framework explains both financial and physical capital maintenance concepts. Which capital maintenance concept is applied to currently reported net income, and which is applied to comprehensive income?

Currently reported net income Comprehensive income

a. Financial capital Physical capital

b. Physical capital Physical capital

c. Financial capital Financial capital

d. Physical capital Financial capital

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