$453$ points

Which of the following is a true statement?

Asset$-$liability advocates are not prepared to tolerate a fluctuating income statement that may include unrealized holding gains and losses.

Asset$-$liability advocates and revenue$-$expense advocates are polarized in part because the financial statements are nonarticulated.

Revenue$-$expense proponents are prepared to introduce deferred charges and deferred credits in order to smooth income measurement.

With articulation, it is possible to have a revenue$-$expense based income statement and an asset$-$liability based balance sheet.