Which of the following is true?
A)An extraordinary gain would increase income before taxes.
B)Discontinued operations would be shown as a component of continuing operations on the income statement.
C)Discontinued operations are shown on the income statement net of income tax effects.
D)Results from discontinued operations may be used to predict future company results.

Question

Quizplus · Accepted Answer

Both extraordinary items and discontinued operations are reported on the income statement net of tax.

Which of the Following Is True