When a Company Discontinues an Operation and Disposes of the Discontinued

question 43

Multiple Choice

When a company discontinues an operation and disposes of the discontinued operation (component) , the transaction should be included in the income statement as a gain or loss on disposal reported as

• A)a prior period adjustment.
• B)an other income and expense item.
• C)an amount after continuing operations and before net income.
• D)a bulk sale of plant assets included in income from continuing operations. S<\sup>56.Gains or losses on the disposal of investments should be shown in the income statement

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Definitions:

Edward Sapir

An American anthropologist and linguist known for his contributions to the study of indigenous languages in North America and his work on the relationship between language, culture, and thought.

Noam Chomsky

An American linguist, philosopher, cognitive scientist, historian, social critic, and political activist known for his profound influence on modern linguistics and his critique of mass media and contemporary political discourse.

Ethnolinguistic Research

The study of the relationship between language and culture, and how they influence and reflect the identity of ethnic groups.

Displacement

The forced movement of people from their locales or countries due to war, persecution, or natural disasters.