When a Segment of a Business Has Been Discontinued During

question 103

Multiple Choice

When a segment of a business has been discontinued during the year,the gain or loss on disposal should:

• A)Include operating losses of the current period up to the measurement date.
• B)Be net of applicable income taxes.
• C)Be reported as an infrequent item.
• D)Include operating losses during the phase-out period.

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Definitions:

Policy Differences

Variations or disagreements in specific plans of action adopted or proposed by governments, organizations, or individuals to address public issues.

Isolationism

A foreign policy strategy that emphasizes a nation's decision to keep apart from the affairs or interests of other groups, especially the political affairs of other countries.

World War I

A global conflict that occurred from 1914 to 1918, involving many of the world's nations, including the great powers organized into two opposing alliances.

Foreign Policy

Strategies and decisions a country employs in its interactions with other nations, focusing on diplomacy, security, and economic interests.