Identify all false statements about non-GAAP earnings. 1. Public companies are required to reconcile non-GAAP earnings with GAAP earnings. 2. Non-GAAP earnings may be reported in a note to financial statements or in Management Discussion & Analysis section. 3. Non-GAAP earnings are usually larger than GAAP earnings as a company selects to exclude "unusual" or "nonrecurring" items. 4. Non-GAAP earnings is not audited by a CPA. 5. All U.S. public companies report some forms of non-GAAP earnings.

Identify all false statements about non-GAAP earnings. 1. Public companies are required to reconcile non-GAAP earnings with GAAP earnings. 2. Non-GAAP earnings may be reported in a note to financial statements or in Management Discussion & Analysis section. 3. Non-GAAP earnings are usually larger than GAAP earnings as a company selects to exclude "unusual" or "nonrecurring" items. 4. Non-GAAP earnings is not audited by a CPA. 5. All U.S. public companies report some forms of non-GAAP earnings.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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