If a company sold a capital asset in the normal course of its operations, where would the gain be reported on a multi-step income statement?
A)In income from operations
B)In income from non-operating sources
C)In Income from discontinued operations
D)In income from asset dispositions

Question

Quizplus · Accepted Answer

The gain on the sale of a capital asset, if it is sold in the normal course of business, would be reported under income from non-operating sources. This is because the gain is not related to the company's primary business activities or operations.

If a Company Sold a Capital Asset in the Normal