Limitations of the income statement include all of the following except: Income measurement involves judgment. Companies omit items from the income statement that they cannot reliably measure. It provides a basis for predicting future performance. Income numbers are affected by the accounting methods employed.
1) Income measurement involves judgment.
2) Companies omit items from the income statement that they cannot reliably measure.
3) It provides a basis for predicting future performance.
4) Income numbers are affected by the accounting methods employed.