APB Opinion No. 28 indicates that

Question

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APB Opinion No. 28 states that the same accounting principles used for the annual report should be employed for interim reports. Therefore, option D is correct. Option A is incorrect because APB Opinion No. 28 does not require all companies that issue an annual report to issue interim financial reports. Option B is incorrect because APB Opinion No. 28 recommends the integral view, not the discrete view, for preparing interim financial reports. Option C is incorrect because APB Opinion No. 28 does not require the three basic financial statements to be presented each time an interim period is reported upon.

APB Opinion No. 28 Indicates That