There are certain situations where it is necessary to recast the financial statements in order to analyze them.All of the following are examples of the need to recast except:
A) The income statement contains a number of gains not expected to occur in the future.
B) There have been a number of temporary differences. They remain on the balance sheet.
C) Asset purchases were made during the year.
D) Interest on long-term debt amounted to $1,000,000.
Correct Answer:
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