Given the Following Income Statement Line Items

question 13

Multiple Choice

Given the following income statement line items:
Income from operations
Income before income taxes
Income from continuing operations
Income from discontinued operations
Net income
How many earnings per share amounts are required to be disclosed?

• A) 5
• B) 4
• C) 3
• D) 2

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Definitions:

Open-end Credit

A pre-approved loan between a financial institution and borrower that can be used repeatedly up to a certain limit and can be repaid prior to payments coming due.

Unpaid Balances

Amounts owed that have not been paid by the due date.

Unsolicited Merchandise

Goods sent to a person without their request, often with the implication that payment is expected if the goods are used or not returned.

Gift

A voluntary transfer of property or funds from one person to another without consideration or expectation of return.