A Company That Discontinues and Disposes of an Operation Component)

question 26

Multiple Choice

A company that discontinues and disposes of an operation component) should include the gain or loss on sale in the income statement as an)

• A) prior-period adjustment.
• B) a component of other comprehensive income.
• C) an amount that is reported after income from continuing operations but before net income.
• D) bulk sale of fixed assets included in income from continuing operations.

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Definitions:

Adequate Treatment

Medical care or therapy that is sufficient and meets the necessary health standards for addressing a specific condition or disease.

Malpractice Suit

A lawsuit charging a therapist with improper conduct or decision making in the course of treatment.

Improper Conduct

Behavior that is not appropriate or fitting within the accepted norms or regulations.

Therapist

A trained professional who helps people understand and resolve their problems or issues through various forms of therapy.