Question

Where should a company undergoing reorganization report the gains and losses resulting from the reorganization? Select one: a. on the statement of retained earnings. b. on the income statement, separate from other gains and losses. c. on the statement of stockholders' equity. d. on the statement of cash flows. e. on the income statement, combined with the gains and losses from operations.

Answer 1

B. On the income statement, separate from other gains and losses.