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 generally accepted accounting principles in their application to the income statement?

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Intermediate Accounting

ISBN: 978-1118147290

15th edition

Authors: Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield

Question Posted: Jun 03, 2013 02:10 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 assumptio...View the full answer

Intermediate Accounting

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