Nonrecurring Items Such as a Loss from Discontinued Operations Is

question 90

Multiple Choice

Nonrecurring items such as a loss from discontinued operations is reported on the income statement:

• A)net of income tax.
• B)before income tax expense.
• C)below the net income line.
• D)Nonrecurring items are not subject to income taxes;therefore,they are not reported on the income statement.

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Definitions:

Product

An item or service created through a process and offered in the market to satisfy a specific need or want.

Opinion

A belief or judgment formed about something, not necessarily based on fact or knowledge.

Customer Benefit

The perceived value or advantage that a consumer gains from using a product or service.

Shock Approach

A strategy in marketing or communication that uses surprising or startling information to capture attention and provoke a response.