Which of the Following Is NOT a Generally Practiced Method

question 131

Multiple Choice

Which of the following is NOT a generally practiced method of presenting the income statement?

• A) Including corrections of errors made in a prior period.
• B) The single-step income statement.
• C) The consolidated statement of income.
• D) Including gains and losses from discontinued operations of a segment of a business in determining net income.

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Definitions:

Internalization

The process of incorporating or integrating ideas, values, and beliefs into one's own worldview or organizational practices.

Effect Dependence

Reliance on others due to their capacity to provide rewards and punishment.

Information Dependence

Reliance on others for information about how to think, feel, and act.

Socialization

The process by which people learn the attitudes, knowledge, and behaviours that are necessary for a person to function in a group or organization.