Which of the following is not a reason for economic income and accounting income to differ?
A)Transaction basis
B)The monetary assumption
C)Conservatism
D)Earnings management

Question

Quizplus · Accepted Answer

The monetary assumption is a fundamental concept in accounting that assumes that all transactions are recorded in a single currency, typically the currency used in the country where the company operates. This concept does not affect the difference between economic income and accounting income. The other options - transaction basis, conservatism, and earnings management - all can lead to differences between economic income and accounting income.

Which of the Following Is Not a Reason for Economic