Amounts shown in the discontinued operations and extraordinary items sections of the income statement are shown net-of-tax.

Question

Quizplus · Accepted Answer

Amounts reported in the discontinued operations and extraordinary items sections of the income statement are indeed shown net-of-tax to reflect the net impact on the company's financial position, making it easier for users to understand the after-tax effect of these items.

Amounts Shown in the Discontinued Operations and Extraordinary Items Sections