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

question 128

Multiple Choice

Execucomp Corporation's financial statements in the current year show a loss from discontinued operations,a prior period adjustment,and an unusual and infrequent 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)Unusual and infrequent gain

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The burden of proof in civil matters; the person making the claim must provide evidence to convince the court that there is a greater than 50 percent likelihood that the event took place as claimed.

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