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When the Disposal of a Significant Segment Occurs, the Income

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True/False

When the disposal of a significant segment occurs, the income statement should report both income from continuing operations and income (loss) from discontinued operations.


Definitions:

Expressly Conditional

Refers to a condition explicitly stated or formally specified, usually within a contract or legal agreement.

Interpret

To explain the meaning of something; to understand or explain something in a specific way, particularly in the context of languages, laws, or texts.

Agreement In Force

A legal term referring to a contract or agreement that is currently active and legally binding.

Criminal Law

The body of laws that involve the rights and responsibilities an individual has with respect to the public as a whole.

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