Statement best defines income concepts

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Reference no: EM131204900

Which statement best defines income concepts?

a. Revenues and expenses are more consistent with the capital maintenance concept to income measurement than with the transactional approach.

b. The capital maintenance approach to income measurement relies on historical cost.

c. The capital maintenance approach to income measurement is the approach used in accounting today.

d. The transactional approach to income measurement is applied using the accrual basis of accounting.

Reference no: EM131204900

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