When the Disposal of a Significant Segment Occurs, the Income

question 236

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:

Frequent Flier

A person who travels by air regularly, often part of a loyalty program that rewards such travel.

Online Statements

Digital records or declarations, often related to financial accounts, policies, or personal beliefs, accessible through the internet.

Underprivileged Children

Young individuals who lack access to basic needs, privileges, and opportunities commonly available to others in society.

Developing Country

Refers to a nation with a less developed industrial base and a lower Human Development Index relative to other countries.