[S1] Operating performance of an entity is reflected by the level of income earned by the entity thru efficient and effective utilization of resources. [S2] Comprehensive income would include gain on sale of investment in ordinary shares A. both are true B. both are false C. Only S1 is true D. Only S2 is true

[S1] Operating performance of an entity is reflected by the level of income earned by the entity thru efficient and effective utilization of resources. [S2] Comprehensive income would include gain on sale of investment in ordinary shares A. both are true B. both are false C. Only S1 is true D. Only S2 is true

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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[S1] Operating performance of an entity is reflected by the level of income earned by the entity thru efficient and effective utilization of resources. [S2] Comprehensive income would include gain on sale of investment in ordinary shares. *both are trueboth are falseOnly S1 is trueOnly S2 is true
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