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:

Medical Savings Accounts

Special savings accounts designed to help individuals save for future medical expenses, offering tax advantages to encourage their use.

Economic Efficiency

A situation in which all of the potential gains from trade have been realized. An action is efficient only if it creates more benefit than cost. With well-defined property rights and competition, market equilibrium is efficient.

Patient Protection

Policies and practices designed to safeguard patients' health, privacy, and rights within the healthcare system.

Affordable Care Act

A comprehensive healthcare reform signed into law in 2010 in the United States, aimed at expanding health insurance coverage and reducing the costs of healthcare.