Which section includes income derived from a firm's primary business activities as well as from activities peripherally related to operations? (Assume the firm expects these sources of earnings to continue.)
A)income from continuing operations
B)income, gains, and losses from discontinued operations
C)extraordinary gains and losses
D)retained earnings
E)paid-in-capital

Question

Quizplus · Accepted Answer

Income from continuing operations includes income from a firm's primary business activities as well as from activities peripherally related to operations, and the firm expects these sources of earnings to continue.

Which Section Includes Income Derived from a Firm's Primary Business