Multiple Choice
The gain on the early retirement of debt is usually classified on the income statement as:
A) a reduction in operating expenses.
B) ordinary revenue.
C) other gains and losses.
D) an extraordinary gain.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q51: Gains and losses on the sale of
Q65: A statement of stockholder's equity reports all
Q91: A disclaimer audit opinion indicates that the
Q94: The value of a company's stock can
Q96: A corporation's net income, including earnings per
Q97: Independent auditors prepare the financial statements so
Q98: On January 1, Scuppernong Corporation's Common Stock
Q99: The amount of cash dividends declared during
Q100: Gains and losses are considered extraordinary if
Q113: Prior-period adjustments are reported on the income