M5-28. Operating Expenses

Indicate whether each of the following is true or false.

a. Amortization expense is a noncash expense similar to depreciation, except it applies to intangible assets.

b. Income attributable to noncontrolling interests is an expense item that reduces net income.

c. Discontinued operations relate to any segment of the business a company is selling.

d. The income (loss) of Discontinued operations and gain (loss) on their sale are reported in the income statement like other revenue and expense items.