In Reporting Discontinued Operations the Income Statement Should Show in a Special

question 129

Multiple Choice

In reporting discontinued operations the income statement should show in a special section
1) gains on the disposal of a discontinued component.
2) losses on the disposal of a discontinued component.

• A) 1 only.
• B) 2 only.
• C) neither 1 nor 2.
• D) both 1 and 2.

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Definitions:

Sequential Process

An ordered series of operations or activities where the output of one step serves as the input for the next, often used in manufacturing or programming.

Control Logic

The control plan for a given system; the program.

Inputs

Inputs refer to signals or data received by a system, which are then processed or used to influence operations within that system.

Outputs

Outputs refer to the data or signals sent out by a system or process, which can be in the form of information, actions, or physical quantities, as a result of its operation or processing.