C is corrent because ASC Topic 915 states that an income statement showing cumulative amounts from the enterprise’s inception and a statement of cash flows showing cumulative amounts from the enterprise’s inception are to be presented.
A is incorrect because per ASC Topic 915 an income statement showing cumulative amounts from the inception of a development stage enterprise must also be presented.
B is incorrect because per ASC Topic 915, a statement of cash flows showing cumulative amounts from the inception of a development stage enterprise must also be presented.
D is incorrect because per ASC Topic 915, both an income statement and a statement of cash flows showing cumulative amounts from the inception of a development enterprise must be presented.
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