When preparing an income statement, which of the following is the proper order for income statement components?
A) Comprehensive income, Other comprehensive income items, irregular items, Net income
B) Net income, irregular items, Comprehensive income, Other comprehensive income items
C) Irregular items, Net income, Other comprehensive income items, Comprehensive income
D) Irregular items, Net income, Comprehensive income, Other comprehensive income items

Question

Quizplus · Accepted Answer

The proper order is to first list irregular items, then calculate net income, followed by other comprehensive income items, and finally comprehensive income.

When Preparing an Income Statement, Which of the Following Is