Nonrecurring items such as a loss from discontinued operations is reported on the income statement:
A)net of income tax.
B)before income tax expense.
C)below the net income line.
D)Nonrecurring items are not subject to income taxes;therefore,they are not reported on the income statement.

Question

Quizplus · Accepted Answer

Nonrecurring items such as gains or losses from discontinued operations are reported net of income tax on a separate line on the income statement.

Nonrecurring Items Such as a Loss from Discontinued Operations Is