Which of the Following Amounts Would Be Shown Net of Tax

question 15

Multiple Choice

Which of the following amounts would be shown net of tax in the income statement?

• A)The gain on the sale of a fixed asset.
• B)The gain from the expropriation of land.
• C)The loss from writing down obsolete inventory.
• D)The loss incurred during a labour strike.

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Definitions:

White-Collar

Pertaining to jobs or workers in professions that typically require formal attire and involve office work, as opposed to manual or blue-collar labor.

Violent Street Crime

Criminal activities that occur in public places and involve force or the threat of force, including assault, robbery, and other acts of violence.

Society

A community of people living together in a more or less ordered community, sharing customs, laws, and organizations.

Stand Your Ground Law

Stand Your Ground Law is a legal doctrine in some jurisdictions that allows individuals to use force in self-defense without the duty to retreat when they reasonably believe such force is necessary to prevent harm or death.