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:

Fairly Bright Light

A level of illumination that is significantly luminous but not overwhelming, often considered comfortable for visibility.

Cool Colors

Colors that are typically associated with calmness and tranquility, including blues, greens, and purples.

Extremely Bright Light

An extremely intense form of illumination that exceeds normal brightness levels, often requiring protective eyewear to avoid damage to the eyes.

Piping Music

The act of playing or delivering music through a series of pipes or speakers, often in public venues or as background ambiance.