Regarding Discontinued Operations,which of the Following Statements Is Incorrect

question 113

Multiple Choice

Regarding discontinued operations,which of the following statements is incorrect?

• A) Gains and losses on the sale of plant assets and equipment are reported as Other Income and (Expenses).
• B) A loss on discontinued operations is reported with an addition for the applicable income tax.
• C) The sale of an identifiable division of the business is reported on the income statement under the category Discontinued Operations.
• D) The Discontinued Operations category of the income statement includes information about segments of the business that have been sold.

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Definitions:

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