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Question 3 Which of the following is true about gains in income statement? Answers A...

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Accounting

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Question 3 Which of the following is true about gains in income statement? Answers A Gains are always more than revenue 8. Gains and revenues are the same Companies that have more gains would have more profit D. Gains may or may not come from ordinary activities Question 5 Qout of point Which of the following is not a limitation of the income statement? Answers A Income numbers are affected by the accounting method employed B. It may contains accounting errors that cannot be corrected c Income measurement involves judgement D. Companies omit items that cannot be measured reliably

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