Execucomp Corporation's Financial Statements in the Current Year Show a Loss

question 64

Multiple Choice

Execucomp Corporation's financial statements in the current year show a loss from discontinued operations,a prior period adjustment,and an extraordinary gain.If Execucomp's income statement is prepared according to generally accepted accounting principles (as illustrated in your text) ,which of the following four items would appear second in sequence in the income statement?

• A)Prior period adjustment.
• B)Income from continuing operations.
• C)Loss from discontinued operations.
• D)Extraordinary gain.

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