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5.) Discontinued operations are reported as follows on the income statement: A. Wherever the preparer of the statements chooses to report them. B. Before income
5.) Discontinued operations are reported as follows on the income statement: A. Wherever the preparer of the statements chooses to report them. B. Before income from continuing operations. C. After income from continuing operations. D. After gross profit. 6.) With regard to the NEW rules, extraordinary items: A. Must be unusual in nature to be classified as extraordinary. B. Must occur infrequently to be classified as extraordinary. OC. Must be unusual in nature AND occur infrequently to be classified as extraordinary. OD. Extraordinary item classification has been eliminated for U.S. GAAP
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