Which of the following is reported as Other Losses and Expenses on the income statement of a major retailer?
A)loss due to sale of a segment of a business
B)loss due to sale of a piece of equipment
C)loss due to takeover of a foreign segment by a foreign government
D)loss due to hurricane in Minnesota that destroyed a plant building

Question

Quizplus · Accepted Answer

Loss due to the sale of a piece of equipment is typically reported as Other Losses and Expenses on the income statement, as it is not part of the retailer's primary operations.

Which of the Following Is Reported as Other Losses and Expenses