Which of the following statements regarding the multiple-step income statement is true?
A)Peripheral results come from the company's main business activity.
B)Core results are presented after peripheral results.
C)Rent revenue may be properly classified as operating revenue by some companies,and as non-operating revenue by others.
D)Investors are more interested in peripheral results than core results.

Question

Quizplus · Accepted Answer

The classification of rent revenue as either operating or non-operating revenue can vary among companies, depending on the nature of their business activities. The other statements are incorrect. A)Peripheral results are unrelated to a company's main business activity. B)Core results are presented before peripheral results. D)Investors are typically more interested in a company's core results than peripheral results.

Which of the Following Statements Regarding the Multiple-Step Income Statement