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One way to understate current earnings would be which of the following? None of 1,2,...

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Accounting

One way to understate current earnings would be which of the following? None of 1,2, or 3.1. Understate reserves for bad debts, loan losses and asset impairments. 3. Expense costs that should be capitalized. 2. Abuse the principle of materiality by omitting losses from small transactions. Both 1 and 2.3 pts3 ptsQuestion 4Which of the following accounts need to be subtracted from the net income to obtain cash flow from operations using the indirect method?10 All of 1,2, and 3. Both 1 and 3.2. Loss on sales of assets. 3. Decrease in accounts receivable. 1. Increase in investment accounts from equity income.

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