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453 points Which of the following is a true statement? Asset-liability advocates are...

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Accounting

453 points
Which of the following is a true statement?
Asset-liability advocates are not prepared to tolerate a fluctuating income statement that may include unrealized holding gains and losses.
Asset-liability advocates and revenue-expense advocates are polarized in part because the financial statements are nonarticulated.
Revenue-expense proponents are prepared to introduce deferred charges and deferred credits in order to smooth income measurement.
With articulation, it is possible to have a revenue-expense based income statement and an asset-liability based balance sheet.
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