[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 true both are false Only S1 is true 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. * both are true both are false Only S1 is true 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 incomeearned by the entity thru efficient and effective utilization of resources.[S2] Comprehensive income would include gain on sale of investment inordinary shares A. both are trueB. both are falseC. Only S1 is trueD. Only S2 is true
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