In reporting extraordinary transactions on a statement of cash flows (indirect method), the
A) gross amount of an extraordinary gain should be deducted from net income.
B) net of tax amount of an extraordinary gain should be added to net income.
C) net of tax amount of an extraordinary gain should be deducted from net income.
D) gross amount of an extraordinary gain should be added to net income.

Question

Quizplus · Accepted Answer

The Answer of In reporting extraordinary transactions on a statement of cash flows (indirect method), the
A) gross amount of an extraordinary gain should be deducted from net income.
B) net of tax amount of an extraordinary gain should be added to net income.
C) net of tax amount of an extraordinary gain should be deducted from net income.
D) gross amount of an extraordinary gain should be added to net income.

In Reporting Extraordinary Transactions on a Statement of Cash Flows