In Preparing the Financial Statements for 2009, an Accountant Improperly

question 72

Multiple Choice

In preparing the financial statements for 2009, an accountant improperly classified a gain from discontinued operations as an extraordinary item. Which of the following amounts would be incorrect as a result of this improper classification?

• A) Profit for 2009.
• B) Ending retained earnings at December 31, 2009.
• C) Profit from continuing operations for 2009.
• D) None of the above would be incorrect.