Why should caution be exercised in the use of the net income figure derived in an income statement?...

Question

Why should caution be exercised in the use of the net income figure derived in an
income statement? What are the objectives of generally accepted accounting
principles in their application to the income statement?
It is necessary to exercise caution to a
ive at net income figure derived in an income...

Robert · Accepted Answer

Why should caution be exercised in the use of the net income figure derived in an 
income statement? What are the objectives of generally accepted accounting 
principles in their application to the income statement?

Why should caution be exercised in the use of the net income figure derived in an income statement? What are the objectives of generally accepted accounting principles in their application to the...

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