Which of the Following Statements Is Correct for an Entity

question 58

Multiple Choice

Which of the following statements is correct for an entity that has discontinued part of its operations during the financial year?

• A) The entity must show the profit or loss from the discontinued operation separately to the profit or loss from continued operations.
• B) The entity must include the profit or loss from the discontinued operation as part of continued operations.
• C) The entity must not show the profit or loss from the discontinued operation on the financial statements for the year.
• D) The entity must show only the profit or loss from the discontinued operation on the financial statements for the year.

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Definitions:

Atypical Neuroleptics

are a class of antipsychotic drugs designed to treat psychiatric conditions, known for causing fewer side effects compared to traditional neuroleptics.

Neuroleptic

A class of drugs used to treat psychiatric disorders, known for their ability to reduce agitation and aggression.

Biomedical Therapy

A treatment approach that addresses mental health disorders through physiological interventions, such as medication or electroconvulsive therapy, to alter brain chemistry.

Electroconvulsive Shock Therapy

A mental health treatment that involves triggering seizures in patients through electrical stimulation to alleviate psychological conditions.