Which of the Following Does Not Appear in a Corporate

question 10

Multiple Choice

Which of the following does not appear in a corporate income statement?

• A) Gains and losses from treasury share transactions.
• B) Income tax expense.
• C) The income or loss from a segment of the business that has been discontinued during the current year.
• D) Gains and losses not expected to recur in the foreseeable future.

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Definitions:

Threatening to Sue

Expressing an intention to initiate legal action against someone.

Dodd-Frank Act

A United States federal law that places regulation of the financial industry in the hands of the government, aimed at reducing risks in the financial system.

Consumer Financial Protection Bureau

A U.S. government agency aimed at ensuring consumer protection in the financial sector and enforcing laws related to financial products and services.

Legislative Approval

The formal consent given by a legislative body to enact a proposed piece of legislation into law.