Which of the Following Statements Regarding Income from Continuing Operations

question 246

Multiple Choice

Which of the following statements regarding income from continuing operations is incorrect?

• A) Income from continuing operations represents the part of the business that should continue from period to period.
• B) Income from continuing operations helps investors make predictions about future earnings.
• C) Income tax expense is subtracted to arrive at income from continuing operations.
• D) A gain on sale of equipment is outside the business's core business and is not part of other income.

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Definitions:

Workforce Creativity

The innovation and creative problem-solving abilities possessed by employees within an organization.

Knowledge and Skill

The understanding, awareness, or familiarity gained through education or experience, and the ability to do something well.

Culturally Contingent

Describes values, practices, or behaviors that are dependent on or vary according to cultural context.

Compassion

A deep awareness of and sympathy for another's suffering, coupled with a desire to alleviate that suffering.