Gains and losses that are neither unusual nor infrequent are reported as:
A) Part of continuing operations in after-tax dollars.
B) A prior period adjustment on the statement of retained earnings.
C) A gain or loss from disposing of the discontinued segment's net assets.
D) A gain or loss from operation of a discontinued segment.
E) Part of continuing operations in before tax dollars.

Question

Quizplus · Accepted Answer

Gains and losses that are neither unusual nor infrequent should be reported as part of continuing operations in before tax dollars, according to the guidance provided by Generally Accepted Accounting Principles (GAAP). This allows for a clearer picture of the company's ongoing operations and performance, without the distortions that may arise from reporting these items separately.

Gains and Losses That Are Neither Unusual nor Infrequent Are