Regarding Discontinued Operations,which of the Following Statements Is Incorrect

question 155

Multiple Choice

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

• A)Gain and losses on the sale of plant assets are not reported as discontinued operations.
• B)A loss on discontinued operations is reported with an addition for the applicable income tax.
• C)Most analysts do not include the results of discontinued operations in financial analysis.
• D)The discontinued operations heading of the income statement includes segments of the business that have been sold.

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Definitions:

Schemas

Mental structures that an individual uses to organize knowledge and guide cognitive processes and behavior.

Abstract Thought

The ability to think about objects, principles, and ideas that are not physically present, a key component of higher-level cognition.

Conservation

In cognitive development, the understanding that properties such as volume, mass, and number remain the same despite changes in the forms or appearances of objects.

Quantity

A property that exists as magnitude or multitude, referring to the amount or number of a material or immaterial thing.