Stober, Ltd

question 10

Multiple Choice

Stober, Ltd.decided on January 1, 2011 to discontinue its plastic making division.The division, considered a reportable segment, was sold on June 1, 2011.Division assets with a carrying value of $650,000 were sold for $500,000.Operating income from January 1, to May 30, 2011 for the division amounted to $80,000.Ignoring taxes, what amount should be reported on Stober's income statement for the year ended December 31, 2011, under the caption "discontinued operations"?

• A)$230,000 gain
• B)$80,000 gain
• C)$150,000 loss
• D)$70,000 loss

Know the resources available for assessing the cultural appropriateness of testing instruments.

Understand the ethical and legal guidelines governing test administration.

Recognize the importance of adhering to standardized procedures during test administration.

Understand the purposes of debriefing following test administration and the potential drawbacks of certain scoring methods.

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Definitions:

Annual Information Form

A comprehensive report, typically required by regulatory bodies, detailing a company's activities, financial performance, and risks.

Product Line Groupings

The organization of related products into categories or groups that are marketed under a single brand name.

Functional Groupings

Involves the organization of products, tasks, or business units based on their purpose or role within the operations of a company.

Geographical Groupings

The organization of entities or data based on geographic locations or regions.