Which of the following types of items would you be most likely to see below the Income Tax Expense line on an Income Statement prepared in 2011?
A) Gain on Sale of Discontinued Operations, Net of Tax
B) Gross Profit
C) Cumulative Effect of Accounting Change
D) Salaries Expense

Question

Quizplus · Accepted Answer

In 2011, the Gain on Sale of Discontinued Operations, Net of Tax would typically appear below the Income Tax Expense line as it is reported after income from continuing operations.

Which of the Following Types of Items Would You Be