Which of the Following Is True

question 60

Multiple Choice

Which of the following is true?

• A)Income from operations would increase other income.
• B)Income before income taxes would be shown as a component of operating income on the income statement.
• C)Gains and losses on the sales of investments are included in nonoperating income (loss).
• D)Income tax expense is shown as part of operating expenses.

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Definitions:

Ethical Egoism

A moral philosophy that posits individuals should act in their own self-interest because it is the moral thing to do.

Analysis

The process of examining components or structures of a subject to understand its nature or to determine its essential features and their relations.

Hedonism

A philosophy that argues pleasure or happiness is the highest good and ultimate aim in life.

Pursuit

The act of following or chasing with the goal of catching or achieving something.