If a common stock investment is sold at a gain the gain
A) is reported as operating revenue.
B) is reported under a special section "Discontinued investments" on the income statement.
C) is reported in the Other revenues and gains section of the income statement.
D) contributes to gross profit on the income statement.

Question

Quizplus · Accepted Answer

The gain from the sale of a common stock investment is not considered part of the company's primary operations, so it is reported in the Other revenues and gains section of the income statement.

If a Common Stock Investment Is Sold at a Gain