An entity that reports a discontinued operation or an extraordinary item shall present basic and diluted earnings per share amounts for those line items
A) only on the face of the income statement.
B) only in the notes to the financial statements.
C) either on the face of the income statement or in the notes to the financial statements.
D) only if management chooses to do so as these amounts are not required to be disclosed either in the financial statements or the notes thereto.

Question

Quizplus · Accepted Answer

The entity can choose to present basic and diluted earnings per share amounts for discontinued operations or extraordinary items either on the face of the income statement or in the notes to the financial statements. However, it is required to disclose these amounts in some form.

An Entity That Reports a Discontinued Operation or an Extraordinary