The Gain or Loss on the Disposal of a Business

question 16

Multiple Choice

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

• A)an extraordinary item.
• B)part of discontinued operations
• C)part of income from operations.
• D)other gains or losses.

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Definitions:

Dominant Crop

Refers to the primary agricultural product grown in a specific region, which dominates the agricultural economy of that area.

Late Nineteenth Century

Refers to the time period from 1870 to 1900, marked by significant industrial, cultural, and political changes globally.

Plains Indians

Native American peoples who inhabited the Great Plains of North America, known for their nomadic lifestyle, horse culture, and conflicts with settlers and the U.S. government.

Indian Economy

The economic system of India, characterized by a mixture of traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and numerous services.