Everyday business activities are reported in: A. continuing operations section. B. continuing...

Question:

Everyday business activities are reported in:

A. continuing operations section.

B. continuing and discontinued operations section.

C. extraordinary items section.

D. discontinued operations section.

Continuing Operation Income Statement:


A continuing operation income statement shows the income from continuing operation from the regular company's business activities. The continuing operation income is also called operating income.

Answer and Explanation: 1

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The correct answer is option A. continuing operations section.

As per the International Financial Reporting Standards (IFRS), all revenue and costs...

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What Are Financial Statements? - Definition, Purpose & Importance

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Chapter 2 / Lesson 1
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Learn about the types and importance of financial statements. See the financial statement definition, and study the purpose of financial statements.


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