Which of the Following Is Not a Generally Practiced Method

question 73

Multiple Choice

Which of the following is not a generally practiced method of presenting the income statement?

• A) Including prior period adjustments in determining net income
• B) The single-step income statement
• C) The consolidated statement of income
• D) Including gains and losses from discontinued operations of a component of a business in determining net income

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Definitions:

Intrusion Upon Seclusion

A legal concept involving the invasion of a person's privacy without their consent, leading to possible legal action.

Privacy Invasion

The violation or breach of someone's right to keep their personal information confidential and control its use.

Provincial Privacy Legislation

Laws enacted at the provincial level in some countries to protect personal information from unauthorized use, collection, or disclosure by private and public bodies.

Written Privacy Policy

A documented statement that outlines how an organization collects, uses, discloses, and manages a customer or client's data to protect their privacy.