Which of the Following Would NOT Be Reflected in the Income

question 67

Multiple Choice

Which of the following would NOT be reflected in the income statement?

• A) An extraordinary item
• B) Cumulative effect of a change in depreciation methods
• C) Loss on disposal of a segment of a business
• D) Correction of an error in previously issued financial statements

---

Definitions:

Relative Position

The placement or ranking of something in relation to others in a sequence or in spatial or hierarchical terms.

Personality Influence

The impact that an individual's character and traits have on their behaviors and the way they interact with the world.

Irrational/Illegitimate Component

An aspect of thought or behavior that lacks logical reasoning or is not sanctioned by societal norms.

Rational/Emotional Component

The aspects of thought and decision-making that involve logical reasoning as well as emotional responses and intuitions.