Economic income (budgeted income) (tangible): measured by the change in equity, where the net assets of the enterprise at the end of the year are matched with the net assets of the enterprise at the end of the year, minus (-) any additional investments during the year. O true O False Accounting (Financial) Income (Entry in Income Statement): It is the measurement of a company's earning ability represented in the
Economic income (budgeted income) (tangible): measured by the change in equity, where the net assets of the enterprise at the end of the year are matched with the net assets of the enterprise at the end of the year, minus (-) any additional investments during the year. O true O False Accounting (Financial) Income (Entry in Income Statement): It is the measurement of a company's earning ability represented in the
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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choose true or false
Transcribed Image Text:Economic income (budgeted
income) (tangible): measured by the
change in equity, where the net
assets of the enterprise at the end of
the year are matched with the net
assets of the enterprise at the end of
the year, minus (-) any additional
investments during the year.
*
O true
O False
Accounting (Financial) Income (Entry
in Income Statement): It is the
measurement of a company's
earning ability represented in the
income statement by matching the
company's achievements (revenues)
with its efforts (expenses). *
False
true
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