An income statement would not include
A)assets held for sale of a discontinued operation.
B)a loss on disposal of a component of an entity.
C)an operating loss on discontinued operations.
D)an unusually large bad debt expense.

Question

Quizplus · Accepted Answer

An income statement typically only includes revenue, expenses, and net income or loss from continuing operations. Assets held for sale of a discontinued operation would not be included on the income statement, but would instead be reported separately as part of the discontinued operation in the financial statements.

An Income Statement Would Not Include