Only statements I and II are true.
#15
Analyze the following:
I – If interim financial statements are presented, only a statement of financial position and a statement of comprehensive income are required.
II – Under cash to accrual and single-entry accounting related problems, accounts payable, trade notes payable, and advances to suppliers are prepared under one ledger because all these accounts are related to company supplier/s.
III – When dilutive convertible bonds are the only potential ordinary shares, diluted EPS will be greater if the bonds are actually converted than not converted.
Given these, we can conclude that:
Group of answer choices
Only statements I and II are true.
Only statements I and III are true.
Only statement II is false.
Statement III is false.
Step by step
Solved in 2 steps
