The Gain or Loss on the Disposal of a Business

question 37

Multiple Choice

The gain or loss on the disposal of a business segment is shown on the income statement as:

• A)an extraordinary item.
• B)other gains or losses.
• C)a component of comprehensive income.
• D)part of discontinued operations.

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Definitions:

Psychotic Disorder

A mental disorder characterized by a disconnection from reality, which can include symptoms such as delusions and hallucinations.

First-Degree Murder

A legal term for a murder that is premeditated and carried out with malice aforethought, indicating planning and intent to kill.

Remorse

A deep feeling of guilt or regret for wrongs one has done.

Not Criminally Responsible

A legal defense asserting that at the time of committing a crime, the person was suffering from a mental disorder that rendered them unable to understand the nature or wrongness of their actions.