The Order of Presentation of Items That May Appear on the Income

question 269

Multiple Choice

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

• A) Extraordinary items, Discontinued operations, Income before income taxes.
• B) Discontinued operations, Extraordinary items, Income before income taxes.
• C) Income before income taxes, Discontinued operations, Extraordinary items.
• D) Income before income taxes, Extraordinary items, Discontinued operations.

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Definitions:

Market

An area or arena in which commercial dealings are conducted.

Alternatives

Other options or choices available in a given situation, often considered when the primary option is not viable.

Substitute

An alternative product or service that a consumer can choose over another, often influencing competitiveness and market dynamics.

Threat

Any circumstance or event with the potential to cause harm to a system, organization, individual, or property.