The Last Section of an Income Statement Report Is

question 5

Multiple Choice

The last section of an Income Statement report is:

• A)extraordinary items.
• B)discontinued operations.
• C)continuing operations.
• D)income tax expense.

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Definitions:

Opportunity Cost

The trade-off of not seizing the next most favorable opportunity when faced with a decision.

Economics Club

A group or organization often found in academic institutions, where members discuss economic theories, current events, and sometimes engage in related projects or competitions.

Accounting Club

An organization or group often found in academic settings that focuses on the study and discussion of accounting practices, career development, and networking for accounting students and professionals.

Marginal Analysis

An examination of the benefits and costs of an additional unit of production or activity to make better decisions.