The loss from discontinued operations is reported in the income statement after the tax effect.

Name: The loss from discontinued operations is reported in the income statement after the tax effect.
Brand: Quizplus
Rating: 4.9 (40 reviews)

Question

Quizplus · Accepted Answer

The loss from discontinued operations is reported in the income statement net of tax. This means that the tax effect is taken into account and the amount reported is the after-tax loss from discontinued operations. Therefore, the answer is true.

The Loss from Discontinued Operations Is Reported in the Income