IFRS Multiple Choice Question 243 Under IFRS, there is no classification for changes in accounting principles. changes in accounting estimates. discontinued operations. extraordinary items 4- Multiple Choice Question 155
ACME Company reports income before income taxes of $ 2,400,000 and had an extra-ordinary loss of $ 800,000. If the tax rate is 30 %,
the income before the extraordinary item is $ 1,680,000. the income before the extraordinary item is $ 1,920,000. the extraordinary loss will be reported at $ 240,000.
the extraordinary loss would be reported on the income statement at $ 800,000.
5- Multiple Choice Question 65 Darius, Inc. has the following income statement( in millions): DARIUS, INC. Income Statement For the Year Ended December 31, 2012