Question
Which of the following statements about the reformulated Income Statement is TRUE ? 1. Income generated from an investment in marketable securities should always be
Which of the following statements about the reformulated Income Statement is TRUE?
1. | Income generated from an investment in marketable securities should always be included in the NFE section of the reformulated Income Statement. | |
2. | The separation of Core Operating Income from Sales and Core Other Operating Income is to identify recurring versus non-recurring components of Operating Income | |
3. | The allocation of tax expense to the Core Operating Income from Sales is a residual amount | |
4. | The reported tax expense must be allocated to both operating and financial Other Comprehensive Income (OCI) items |
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