Which of the Following Is Not Used as a Caption

question 107

Multiple Choice

Which of the following is not used as a caption if there is nothing to report?

• A) income from continuing operations
• B) extraordinary items
• C) interest expense
• D) income taxes

---

Definitions:

Liabilities

Liabilities represent obligations or debts that a company owes to external parties, which must be settled through the transfer of assets or services.

Assets

Economic resources owned by a business or individual, expected to bring future benefits.

Net Income

The total profit or loss of a business after all expenses, taxes, and costs have been subtracted from total revenue.

Net Loss

A situation where total expenses exceed total revenues, indicating a negative profit.