______________________________________ Is a Line Item on the Income Statement to Reflect

question 50

Short Answer

______________________________________ is a line item on the income statement to reflect the net income or loss of a discontinued business segment as well as any gain or loss incurred from its disposal.

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Definitions:

Demand

The quantity of a particular good or service that consumers are willing and able to purchase at various prices during a given period of time.

Supply Curve

A graphical representation showing the relationship between the quantity of goods that producers are willing to sell and the price of those goods.

Relatively Elastic

Describes a situation where the quantity demanded or supplied of a good or service changes significantly in response to a change in price.