The order of presentation of items that may appear on the income statement is
A) Extraordinary items, Discontinued operations, Income before income taxes.
B) Discontinued operations, Extraordinary items, Income before income taxes.
C) Income before income taxes, Discontinued operations, Extraordinary items.
D) Income before income taxes, Extraordinary items, Discontinued operations.

Question

Quizplus · Accepted Answer

The correct order on the income statement is Income before income taxes, followed by Discontinued operations, and then Extraordinary items.

The Order of Presentation of Items That May Appear on the Income