Accounting Theory: 8theditionPage 8 of 11
Chapter 7—THE FASB'S CONCEPTUAL FRAMEWORK3.Respond to the following:a.How is net income different from earnings in SFAC No. 5?b.What is comprehensive income?ANSWER:4.Explain the hierarchy of accounting qualities identified in SFAC No. 2.
You've reached the end of your free preview.
Want to read all 11 pages?
- Spring '15
- Prof.Wang
- Accounting, Balance Sheet, Generally Accepted Accounting Principles, SFAC No.
