Non-recurring expenses on income statement

Reference no: EM1358934

When normalizing operating results, non-recurring expenses that are reported within SG&A, CGS or other expense line items on a company's income statement:

1. Should be included these line items because they are "above the line"
2. Should be excluded or "pulled -out" of these line items
3. Should not be altered because models should be built in accordance with GAAP and reported financial results
4. None of the above

Reference no: EM1358934

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