Major CoReported 2016 Income of $300,000 from Continuing Operations Before Income

question 14

Multiple Choice

Major Co.reported 2016 income of $300,000 from continuing operations before income taxes and a before-tax loss on discontinued operations of $80,000.All income is subject to a 30% tax rate.In the 2016 income statement,Major Co.would show the following line-item amounts for income tax expense and net income:

• A)$66,000 and $210,000.
• B)$90,000 and $154,000.
• C)$90,000 and $276,000.
• D)$66,000 and $220,000.

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Definitions:

Johari Window

Johari Window is a psychological tool used to help individuals and groups understand their relational dynamics by categorizing knowledge of oneself and others into four quadrants: open, hidden, blind, and unknown.

Communication

The process of conveying information and understanding from one entity to another through the use of spoken words, written language, signals, or behavior.

Constructive Criticism

A feedback process aimed at offering helpful suggestions and insights for improvement in a supportive manner.

Self-disclosure

The act of revealing personal, intimate details about oneself to others.