A loss due to a discontinued operation should be reported on the income statement a.as an operating expense b.without related tax effect c.above income from continuing operations d.below income from continuing operations

Respuesta :

Answer:

d.below income from continuing operations

Explanation:

An income statement can be regarded as financial statement which expresses the income of the company as well as expenditures. It allows the company to know whether profit or loss is been made by the company for a given period. The income statement, as well as balance sheet and cash flow statement can allow ones to understand the financial health of a particular business. It should be noted that loss due to a discontinued operation should be reported on the income statement as below income from continuing operations

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