Provide explanation with the correct option

Which of the following statements regarding income is correct? O All increases in equity are income O All income increases equity O All income increases assets O All increases in net assets are income O All increases in assets are income D Question 8 1 p A company has asked a potential supplier to provide trade credit and has submitted its most recent set of audited financial statements to demonstrate its liquidity position. Which of the following qualitative characteristics is most likely compromised? O Neutrality O Verifiability O Comparability O Timeliness O Understandability