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:

Canada

A country in North America known for its vast landscapes, diverse cultures, and bilingual English and French speaking populations.

WHMIS

Workplace Hazardous Materials Information System, a comprehensive system for providing information on the safe use of hazardous materials used in Canadian workplaces.

Hazardous Materials

Substances that pose potential risks to health, safety, property, or the environment when transported, handled, or stored.

Oil Industry

A global sector involving the exploration, extraction, refining, and selling of oil and petroleum products.