Which of the Following Statements Is True Regarding the Reporting

question 40

Multiple Choice

Which of the following statements is true regarding the reporting of discontinued operations?

• A)The impact that the discontinued operations had on any previous year results is not shown for comparative purposes.
• B)The income or loss, net of taxes, of the discontinued operations is reported as a separate component of income from continuing operations.
• C)Earnings per share data are not reported separately for discontinued operations.
• D)By reporting discontinued operations as a separate item, net of taxes, all of the effects of the discontinued business segment are excluded from the revenues, expenses, gains, and losses of continuing operations.

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Definitions:

Adolescence

Adolescence is the transitional stage from childhood to adulthood that occurs from puberty to legal adulthood, characterized by significant physical, psychological, and social changes.

Independent

Free from outside control; not depending on another's authority, or in research, a variable that is manipulated to observe its effect on a dependent variable.

Self-Supporting Adult

An individual who has achieved economic independence and can financially sustain themselves without relying on others.

Gender Schema Theory

A theory suggesting that individuals learn about gender roles and develop gender-based beliefs through cultural and social interactions.