The Date on Which a Gain or Loss from the Disposal

question 96

Multiple Choice

The date on which a gain or loss from the disposal of a segment of a business is measured is the:

• A) date that operations cease (if disposal is by abandonment).
• B) last day of the fiscal year in which the decision to dispose is made plan.
• C) date that the assets are sold.
• D) date that the entity makes a formal commitment to disposal.

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Definitions:

Clarifying

The process of making something understandable or clear, often by providing additional information or explaining in more detail.

Affirmation

A statement of emotional support or encouragement, often used as a technique in positive thinking and self-improvement practices.

Normalizing

The process of making something standard, typical, or expected within a certain context or framework.

Directing

The process of guiding, commanding, or controlling a group or an individual to achieve desired goals or tasks.