When a Significant Operation That Does Meet the Definition of a Discontinued

question 57

True/False

When a significant operation that does meet the definition of a discontinued operation is disposed of, U.S. GAAP requires disclosure of the pre-tax profit (loss) of that operation.

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Definitions:

Greatest Good

A principle often associated with utilitarianism, which suggests that actions should be judged as morally right if they contribute to the highest good or happiness for the greatest number of people.

Moral Idealism

An ethical philosophy which considers certain actions as inherently right or wrong, regardless of their outcomes.

Utilitarianism

An ethical theory that posits the best action is the one that maximizes utility, typically defined as that which produces the greatest well-being of the greatest number of people.

Personal Moral Philosophies

Individual sets of beliefs and principles regarding what is right or wrong, guiding personal behavior and ethical decisions.