Ford Motor Company (www.fordmotorcompany.com) and General Motors (www.gm.com) have two departments: Automobile Sales and Financing. Go to
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Ford Motor Company (www.fordmotorcompany.com) and General Motors (www.gm.com) have two departments: Automobile Sales and Financing. Go to each company’s financial statements on its website (investors, annual report). Both companies provide a consolidated statement of income. One company separates Automobile Sales and Financing/Credit only on sales. Which company provides net income (before income taxes) by department and which one combines both departments? Why do you think the companies differ in their presentation of income information?
Financial StatementsFinancial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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General Motors provides income information by department Management wo...View the full answer
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Related Book For 
College Accounting Chapters 1-30
ISBN: 978-1259631115
15th edition
Authors: John Price, M. David Haddock, Michael Farina
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