USGAAP and IFRS Require Separate Income Statement Display of Income

question 32

Multiple Choice

U.S.GAAP and IFRS require separate income statement display of income from continuing operations and _____earnings that will not continue because the firm either sold, or made a decision to sell, a portion of its business) .Such a requirement aids users of the income statement in predicting future earnings.

• A)income from discontinued operations
• B)extraordinary items
• C)changes in accounting principles
• D)sale of individual assets
• E)none of the above

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