Companies are NOT allowed to combine the income statement and the statement of comprehensive income,but must show them as two separate reports.

Name: Companies are NOT allowed to combine the income statement and the statement of comprehensive income,but must show them as two separate reports.
Brand: Quizplus
Rating: 4.8 (53 reviews)

Question

Quizplus · Accepted Answer

Companies can present the income statement and the statement of comprehensive income either as a single continuous statement or as two separate statements, according to accounting standards like IFRS and US GAAP.

Companies Are NOT Allowed to Combine the Income Statement and the Statement