An Income Statement Would Not Include

question 96

Multiple Choice

An income statement would not include

• A)the reduction in prior year's profit from a change in accounting policy.
• B)a loss on disposal of a component of an entity.
• C)an operating loss on discontinued operations.
• D)an unusually large bad debt expense.

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Definitions:

Accessibility

The ease with which people can bring an idea into consciousness and use it in thinking.

Mere Exposure Effect

The phenomenon by which people tend to develop a preference for things merely because they are familiar with them.

Primacy Effect

The tendency to remember information at the beginning of a list or sequence better than information in the middle or at the end.

Political Debate

A formal discussion between individuals or parties where differing viewpoints and policies regarding political issues are presented and argued.