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Accountants have advocated two types of income statements based on differing views of the concept of...

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Accounting

Accountants have advocated two types of income statements basedon differing views of the concept of income: the current operatingperformance and all-inclusive concepts of income. How would thefollowing items be handled under each concept? 1. Cost of GoodsSold 2. Selling expenses 3. Prior period Adjustments

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