Hi, Please explain the principle for the below-corrected questions.

Thanks

^S49. A material item which is unusual in nature or infrequent in occurrence, but not both should be shown in the income statement

Net of Tax Disclosed Separately

a. No No

b. Yes Yes

c. No Yes

d. Yes No

51. Which of the following is true about intraperiod tax allocation?

a. It arises because certain revenue and expense items appear in the income statement either before or after they are included in the tax return.

b. It is required for extraordinary items and cumulative effect of accounting changes but not for prior period adjustments.

c. Its purpose is to allocate income tax expense evenly over a number of accounting periods.

d. Its purpose is to relate the income tax expense to the items which affect the amount of tax.

54. Which of the following items would be reported at its gross amount on the face of the income statement?

a. Extraordinary loss

b. Prior period adjustment

c. Cumulative effect of a change in an accounting principle

d. Unusual gain

^S58. Earnings per share should always be shown separately for

a. net income and gross margin.

b. net income and pretax income.

c. income before extraordinary items.

d. extraordinary items and prior period adjustments.

^P59. A correction of an error in prior periods' income will be reported

In the income statement Net of tax

a. Yes Yes

b. No No

c. Yes No

d. No Yes