The Order of Presentation of Nontypical Items That May Appear

question 165

Multiple Choice

The order of presentation of nontypical items that may appear on the income statement is

• A)Extraordinary items, Discontinued operations, Other revenues and expenses.
• B)Discontinued operations, Extraordinary items, Other revenues and expenses.
• C)Other revenues and expenses, Discontinued operations, Extraordinary items.
• D)Other revenues and expenses, Extraordinary items, Discontinued operations.

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Definitions:

Checking Account

A bank account that allows the holder to withdraw funds using checks or a debit card, typically used for daily transactions.

Deposit

A sum of money placed into an account or given as a security for the future payment of a service.

Certified Check

A check validated by a bank where the bank guarantees the availability of the funds behind the check.

Personal Check

A hand-written document that orders a bank to pay a specific amount of money from the writer's account to another party.