Why these sentences are incorrect

The income statement reports the results of operations as of a given date The income statement is an expanded expression of the fundamental accounting equation Because of the qualitative characteristics of understandability, all data - users can understand the financial statement prepared by a mature CPA A deviation from generally accepted accounting principles is permissible if the amount involved in the transaction is material and may not have impact on user's decisions Applying the monetary unit assumption, a Philippine-based business that has a client paying in dollars should record the transaction also in dollars Because financial statements must be objective and based on verifiable evidence, date obtained from estimates cannot be presented