When a Corporation Discontinues a Segment of Its Operations at a Loss

question 138

True/False

When a corporation discontinues a segment of its operations at a loss, the loss should be reported as a separate item before income from continuing operations on the income statement.

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Definitions:

CMOS Battery

A small battery on a computer motherboard that provides power to the CMOS chip, retaining system settings such as the date and time when the computer is off.

Disgruntled Employee

An employee who is dissatisfied or frustrated with their job, which might result in decreased productivity or malicious behavior towards the company.

Thunderbolt

A hardware interface developed by Intel that allows the connection of external peripherals to a computer, known for its high-speed data transfer capabilities.

Storage Devices

Hardware used to store and retain digital data, such as hard drives, SSDs, USB flash drives, and memory cards.