What Is the CORRECT Order to List Line Items on the Income

question 107

Multiple Choice

What is the CORRECT order to list line items on the income statement?

• 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:

Analyzed

The process of examining data or a financial statement in detail to extract insights or identify trends.

Effect

The impact or outcome that results from a specific cause or action, often analyzed in studies to understand causal relationships.

Ledger Accounts

Records that summarize the transactions related to a particular item over a period, creating a record of each financial transaction that takes place.

Transferred

The act of moving assets, funds, or rights from one account, location, or ownership to another.