Which of the Following Items Appears on the Income Statement

question 127

Multiple Choice

Which of the following items appears on the income statement before profit from continuing operations?

• A)Change in accounting policy
• B)Profit from discontinued operations
• C)Income tax expense
• D)Gain on sale of discontinued operations

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Definitions:

Sustainability

The ability to maintain or improve resources or processes in a way that does not deplete the underlying environmental, social, or economic systems.

Depleting Resources

Natural resources that are diminishing due to usage or exploitation faster than they are replenished.

Natural Resources

Physical materials and substances occurring naturally in the environment that can be used for economic gain, such as water, minerals, forests, and fossil fuels.

Due Process

The fair treatment through the normal judicial system, especially as a citizen's entitlement.