The Disposal of a Segment of a Business Is Called

question 84

Multiple Choice

The disposal of a segment of a business is called:

• A) an extraordinary item.
• B) other expense.
• C) a sales transaction.
• D) discontinued operations.

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Definitions:

Income Statement

A financial report that shows a company's revenues, expenses, and profits over a specific period, highlighting operational efficiency.

Contributed Capital

The total value of the cash and other assets received by a company from its shareholders in exchange for shares of stock.

Income Statement

A financial statement that shows a company's revenue and expenses over a specific period, highlighting net profit or loss.

Accounting Records

Documents and books that keep track of all financial transactions of a company, forming the basis for financial statements.