Which of the following items appear on the corporate income statement before income from continuing operations?
A) cumulative effect of a change in accounting principle
B) income tax expense
C) presentation of earnings per share
D) loss on discontinued operations

Question

Quizplus · Accepted Answer

Income tax expense appears on the corporate income statement before income from continuing operations. It is a part of the expenses deducted to arrive at the net income from continuing operations. The other options (A, C, D) are presented after the income from continuing operations or in the notes to financial statements.

Which of the Following Items Appear on the Corporate Income