When Preparing an Income Statement, Which of the Following Is

question 5

Multiple Choice

When preparing an income statement, which of the following is the proper order for income statement components?

• A) Comprehensive income, Other comprehensive income items, Net income
• B) Net income, Comprehensive income, Other comprehensive income items
• C) Net income, Other comprehensive income items, Comprehensive income
• D) Other comprehensive income items Net income, Comprehensive income

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Definitions:

Implementation Decisions

The actions and strategies put into place to execute policies, plans, or programs.

Executive Branch

The part of government responsible for implementing, supporting, and enforcing laws; in the U.S., it includes the President, the Vice President, and the Cabinet.

President's Cabinet

A group of the most senior appointed officers of the executive branch of the U.S. government, who head various departments and advise the President.

Hierarchically

In a manner that arranges things or people in order of rank, grade, class, or importance.