Which of the Following Is a Required Disclosure in the Income

question 13

Multiple Choice

Which of the following is a required disclosure in the income statement when reporting the disposal of a segment of the business?

• A) The gain or loss on disposal should be reported as an unusual item.
• B) Results of operations of a discontinued segment should be disclosed in other comprehensive income.
• C) Earnings per share from both continuing operations and for the discontinued segment should be disclosed either on the face of the statement or in the notes.
• D) The gain or loss on disposal should not be segregated, but should be reported together with the results of continuing operations.

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Definitions:

Europe

A continent located entirely in the Northern Hemisphere and mostly in the Eastern Hemisphere, comprising countries with diverse cultures, languages, and histories.

Asia

The world's largest and most populous continent, located primarily in the Eastern and Northern Hemispheres, it is known for its diverse cultures, languages, and economies.

Foreign Relations

The management and strategy involved in dealings and relationships between nations.

Great Britain

A sovereign nation located off the northwest coast of Europe, comprising England, Scotland, and Wales.