Which of the following statements is not true?
A)We report any profits or losses on discontinued operations in the current year,separately from profits and losses on the portion of the business that will continue.
B)We report discontinued items separately,net of taxes,near the bottom of the income statement.
C)The location where a loss is reported in the income statement does not really matter as long as the loss is reported.

Question

Quizplus · Accepted Answer

The location of a loss or profit in the income statement does matter as it can affect the overall net income and other financial ratios. It is important to report items accurately and in the appropriate place in the income statement for clear and transparent financial reporting.

Which of the Following Statements Is Not True