A useful statement of income
A) has feedback value.
B) has predictive value.
C) helps stakeholders understand the business.
D) all of the above

Question

Quizplus · Accepted Answer

A useful statement of income has feedback value, as it allows for analysis and evaluation of past performance. It also has predictive value, as it can help stakeholders make informed decisions about the future. Finally, it helps stakeholders understand the business by providing information on revenue, expenses, and profits.

A Useful Statement of Income