The Gain or Loss on the Disposal of a Business

question 36

Multiple Choice

The gain or loss on the disposal of a business segment is shown:

• A)on the balance sheet net of the income tax consequences.
• B)on the income statement net of the income tax consequences.
• C)as part of other comprehensive income.
• D)as part of extraordinary items.

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Definitions:

Ethical Principles

Fundamental guidelines that help govern behaviors and decision-making based on moral beliefs and values.

Code Of Conduct

A set of rules outlining the social norms, ethical standards, and responsibilities of, or proper practices for, an individual, party, or organization.

Corruption

Dishonest or fraudulent conduct by those in power, typically involving bribery or the misuse of authority for personal gain.

Yellow Pages

A telephone directory of businesses, categorized by the nature of the business, typically used for commercial advertising.