If an Investment in an Associate Is Sold at a Gain

question 119

Multiple Choice

If an investment in an associate is sold at a gain, the gain

• A) is reported as operating revenue.
• B) is reported under a special section, "Discontinued Investments," on the income statement.
• C) is reported in the Other Revenues and Gains section on the income statement.
• D) contributes to gross profit on the income statement.