Which of the following items would not be reported on a net-of-tax basis in an entity's financial statements?
A)a revision in the remaining useful life of depreciable equipment, which is accounted for as a change in accounting estimate
B)a gain arising from the sale of a component of the business
C)an adjustment to the financial statements that is accounted for as a prior-period adjustment
D)a loss that qualifies as an extraordinary item

Question

Quizplus · Accepted Answer

The Answer of Which of the following items would not be reported on a net-of-tax basis in an entity's financial statements?
A)a revision in the remaining useful life of depreciable equipment, which is accounted for as a change in accounting estimate
B)a gain arising from the sale of a component of the business
C)an adjustment to the financial statements that is accounted for as a prior-period adjustment
D)a loss that qualifies as an extraordinary item

Which of the Following Items Would Not Be Reported on a Net-Of-Tax