All of the Following Components Are Shown in the Income

question 22

Multiple Choice

All of the following components are shown in the income statement net of applicable income taxes except

• A) gain or loss on sale of plant assets.
• B) cumulative effect of a change in accounting principle.
• C) discontinued operations.
• D) extraordinary gain or loss.

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Definitions:

Main Components

Essential parts or elements that constitute something or contribute to its operation.

Symbolic Notation

A system of symbols used to represent numbers, operations, relations, or concepts, especially in mathematics, logic, and computer science.

Symbolic Notation

A system of symbols used to represent numbers, operations, relations, or concepts, often used in mathematics and logic.

Atomic Components

The smallest, indivisible parts or elements that make up a system, reflecting the concept in both physical science (atoms in matter) and logic (basic propositions).