Which of the following is/are true? I. An entity shall present any items of the income and expenses as extraordinary in the notes to financial statement. II. An entity shall not present any items of the income and expenses as extraordinary in the face of income statement or statement of comprehensive income. III. An entity shall present any items of the income and expenses as extraordinary in the face of the income statement or statement of comprehensive income. IV. An entity shall not present any items of the income and expenses as extraordinary in the notes to financial statement. a. I and II b. II and III c. I and IV d. II and IV
Which of the following is/are true? I. An entity shall present any items of the income and expenses as extraordinary in the notes to financial statement. II. An entity shall not present any items of the income and expenses as extraordinary in the face of income statement or statement of comprehensive income. III. An entity shall present any items of the income and expenses as extraordinary in the face of the income statement or statement of comprehensive income. IV. An entity shall not present any items of the income and expenses as extraordinary in the notes to financial statement. a. I and II b. II and III c. I and IV d. II and IV
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Which of the following is/are true?
I. An entity shall present any items of the income and expenses as extraordinary in the notes to financial
statement.
II. An entity shall not present any items of the income and expenses as extraordinary in the face of income
statement or statement of comprehensive income.
III. An entity shall present any items of the income and expenses as extraordinary in the face of the income
statement or statement of comprehensive income.
IV. An entity shall not present any items of the income and expenses as extraordinary in the notes to financial
statement.
a. I and II
b. II and III
c. I and IV
d. II and IV
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