Accounting standards require which one of the following groups of presentations on the income statement?

Question

Quizplus · Accepted Answer

Accounting standards require the presentation of basic and diluted earnings per share (EPS) for all periods presented for income from continuing operations, discontinued operations, and net income. This is in accordance with the Generally Accepted Accounting Principles (GAAP) and is necessary for uniformity and comparability of financial statements. Option B is incorrect as it only includes basic and diluted EPS for net income. Option C is incorrect as it only includes basic EPS for three periods. Option D is also incorrect as it only includes basic and diluted EPS for the current period.

Accounting Standards Require Which One of the Following Groups of Presentations