Quiz – Which of the following statements is CORRECT?
Fundamentals of Financial Management, Concise
Brigham and Houston
09th Edition and 10th Edition
Which of the following statements is CORRECT?a. The main point of the income statement is the cash account. This is important because that account cannot be manipulated by “accounting tricks.”b. The income reported by two identical firms cannot be manipulated by different accounting procedures given that the firms follow GAAP.c. The income reported by two…