Assets and Liabilities of a Discontinued Operation That Are Held

question 92

Multiple Choice

Assets and liabilities of a discontinued operation that are held for sale are reported

• A)separately on statement of financial position.
• B)at higher of their carrying amount or fair value.
• C)at lower of fair value or cost.
• D)separately on the statement of comprehensive income.

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Definitions:

Economic Expansion

A phase of the business cycle where economic activity and output increase, indicating growth in the economy.

EBIT

Earnings Before Interest and Taxes - a measure of a firm's profit that includes all expenses except interest and income tax expenses.

Capital Structure

The mix of debt, equity, and other securities that a company uses to finance its overall operations and growth.

Lend Out

The act of providing money or assets to another party with the expectation that it will be returned or repaid, often with interest.