Which of the Following Items Would Be Reported Net of Tax

question 128

Multiple Choice

Which of the following items would be reported net of tax on the face of the income statement?

• A) Prior period adjustment
• B) Unusual gain
• C) Change in realizability of receivables
• D) Discontinued operations

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Definitions:

Functional Arrangement

An organizational structure where employees are grouped according to the specific role or function they perform within the organization.

Geographically

Pertains to or derives from the physical characteristics of the earth's surface.

Formal Report

A structured report with defined sections that presents and analyses data or findings for a specific audience and purpose.

Purpose Statement

A declaration that outlines the intent or goal of a document, presentation, or research project.