An extraordinary loss of $250,000 that results in income tax savings of $60,000 should be reported as an extraordinary loss (net of tax) of $190,000 on the income statement
Indicate whether the statement is true or false
T
You might also like to view...
Which is true about 24x7 support?
A. Service desk analysts must be on-site at all times to quickly resolve incidents and service requests. B. Service desks typically do not offer emergency support after regular business hours, as it is too costly. C. It allows for flexible analyst schedules such as ten hour days with three days off, which accommodate different analyst needs. D. Service desks strive to provide the same depth of support after hours as during business hours.
Which of the following response hierarchy models depicts consumers going through the stages of attention, presentation, comprehension, yielding, retention, and behavior?
A. the innovation adoption model B. the information processing model C. the integrated information response model D. the AIDA model E. the hierarchy of effects model
The firm's statement of retained earnings reports changes in:?
A. ?the amount of dividends paid. B. ?the common equity accounts. C. ?the interest on debt account. D. ?the amount of net income. E. ?the amount of depreciation.
Funds that invest in a portfolio of companies from the same or closely related industries are known as
A) aggressive growth funds. B) sector funds. C) emerging market funds. D) asset allocation funds.