A firm reported income of P100,000, P120,000 and P130,000 for years ended December 31, 2019, 2020 and 2021 respectively. The change in net income from the last two recent years must be nearest to A. 7.7% C. 8.3% B. 8.0% D. 10.0%

A firm reported income of P100,000, P120,000 and P130,000 for years ended December 31, 2019, 2020 and 2021 respectively. The change in net income from the last two recent years must be nearest to A. 7.7% C. 8.3% B. 8.0% D. 10.0%

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter3: Accrual Accounting

Section: Chapter Questions

Problem 10MCQ: Reinhardt Company reported revenues of $122,000 and expenses of $83,000 on its 2019 income...

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