Lupton Inc

question 79

Multiple Choice

Lupton Inc.disposes of an unprofitable segment of its business.The operation of the segment suffered a $200,000 loss in the year of disposal.The loss on disposal of the segment was $100,000.If the tax rate is 30%, and income before income taxes was $1,600,000,

• A)the income tax expense on the income before discontinued operations is $390,000.
• B)the income from continuing operations is $1,120,000.
• C)net income is $1,300,000.
• D)the losses from discontinued operations are reported net of income taxes at $300,000.

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Definitions:

Connective Tissues

Tissues that support, bind together, and protect organs, including bone, cartilage, tendons, and fat.

Reticular Fibers

Fine, network-forming fibers found in connective tissue that provide support to the tissues and organs.

Connective Tissue Fiber

Protein fibers, including collagen, elastin, and reticular fibers, that provide support and strength to connective tissue.

Neuroglia

are supportive cells in the nervous system, providing structure, protection, and nutrition to neurons.