Which of the following items would be reported net of tax on the face of the income statement?
A) Prior period adjustment
B) Unusual gain
C) Change in realizability of receivables
D) Discontinued operations

Question

Quizplus · Accepted Answer

Discontinued operations are reported net of tax on the face of the income statement. This presentation helps users of financial statements to understand the impact of these operations on the net income of the company, separate from its continuing operations.

Which of the Following Items Would Be Reported Net of Tax