Intermediate Accounting, I - Exam 2 with 100% Correct Answers| Verified & Updated

Which of the following would be more likely in multiple step income statement: 1. Total Expenses 2. Total Revenues & Gains 3. Operating Income - Operating Income is most likely found in a multiple step income statement Item typically included in the income from continuing operations section of the income statement is: 1. Discontinued operations 2. Restructuring costs 3. Prior period adjustment - Restructuring costs are typically included in income from continuing operations The application of intraperiod income taxes requires that income taxes be apportioned to each of the following items except: 1. Income from continuing operations 2. Operating income 3. Discontinued operations - Operating Income would not be in this list For a manufacturing company, each of the following items would be considered non operating income for income statement purposes except: