A Company That Discontinues and Disposes of an Operation (Component)should

question 17

Multiple Choice

A company that discontinues and disposes of an operation (component) should include the gain or loss on sale in the income statement as a(n)

• A)prior-period adjustment
• B)extraordinary item
• C)amount after income from continuing operations and before extraordinary items
• D)bulk sale of fixed assets included in income from continuing operations

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Definitions:

Gc

General crystallized intelligence, referring to the ability to use learned knowledge and experience.

Formal Learning

A structured educational process, often occurring in an institutional setting like schools or universities, following a curriculum.

General Ability Factor

A construct that represents the overall cognitive abilities of an individual, often derived from various intelligence test scores.

Information Processing Theories

Theories that describe how humans perceive, think, learn, and remember information, emphasizing the mental processes involved.