How would a gain on the sale of machinery be reported on an income statement?
A) A gain on the sale of machinery would be reported as an extraordinary gain.
B) A gain on the sale of machinery would be reported as a component of net sales.
C) A gain on the sale of machinery would be reported as a component of income from discontinued operations.
D) A gain on the sale of machinery would be reported as a component of income from continuing operations.
Correct Answer:
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