The Heading of a Balance Sheet Will Show the Same

question 156

True/False

The heading of a balance sheet will show the same information for the date line as the heading for a statement of retained earnings.

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Definitions:

Discontinued Operations

Parts of a company's operations that have been disposed of or sold off, which are reported separately on the financial statements.

Gains

Financial benefits realized from selling assets for more than their purchase costs.

Losses

Reductions in asset value not related to the normal operations of the business.

Discontinued Operations

Components of a business, such as a department or segment, that have been disposed of or are designated for disposal.