Which of the Following Line Items Are Reported Net of Tax

question 54

Multiple Choice

Which of the following line items are reported net of tax on the income statement?

• A)operating loss of discontinued operations
• B)loss on sale of discontinued segment
• C)extraordinary loss due to flood damage in factory in Phoenix,Arizona
• D)all of the above

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Definitions:

Planning

The process of defining an organization's strategy or direction and making decisions on allocating its resources to pursue this strategy.

Long-range Planning

The act of setting long-term goals and outlining strategies to achieve them, often encompassing a period of several years into the future.

Internet Time

A concept that reflects the acceleration of product development, innovation, and market transformation attributed to the rapid exchange of information via the internet.

Strategic Time

A planned duration allocated for formulating, executing, and reviewing strategic plans to achieve long-term organizational goals.