Which of the following statements is correct? A) The focal point of the income statement is the cash account, because that account cannot be manipulated by "accounting tricks."
B) The reported income of two otherwise identical firms cannot be manipulated by different accounting procedures provided the firms follow Generally Accepted Accounting Principles (GAAP).
C) The reported income of two otherwise identical firms must be identical if the firms are publicly owned, provided they follow procedures that are permitted by the Securities and Exchange Commission (SEC).
D) If a firm follows Generally Accepted Accounting Principles (GAAP), then its reported net income will be identical to its reported net cash flow.
E) The income statement for a given year, say 2006, is designed to give us an idea of how much the firm earned during that year.

Suppose the government decides to issue a new savings bond that is guaranteed to double in value if you hold it for 20 years. assume you purchase a bond that costs $25. a. what is the exact rate of return you would earn if you held the bond for 20 years until it doubled in value? (do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e. g., 32.16.) b. if you purchased the bond for $25 in 2017 at the then current interest rate of .27 percent year, how much would the bond be worth in 2027? (do not round intermediate calculations and round your answer to 2 decimal places, e. g., 32.16.) c. in 2027, instead of cashing in the bond for its then current value, you decide to hold the bond until it doubles in face value in 2037. what annual rate of return will you earn over the last 10 years? (do not