IFRS 5 Defines a Discontinued Operation as an Operating Segment

question 2

Multiple Choice

IFRS 5 defines a discontinued operation as an operating segment of a company that:

• A) has been sold.
• B) is held for sale.
• C) has been sold or is held for -sale.
• D) is no longer under management control.

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Definitions:

Government

An organization, often a group of people, with the authority to govern a country or state.

Tax

Compulsory financial charges or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund government spending and various public expenditures.

Price Ceiling

A Price Ceiling is a government-imposed limit on how high a price can be charged for a product, intended to protect consumers from exorbitant prices.

Supply Curve

A graph showing the relationship between the quantity of a good that producers are willing to sell and the price of the good.