Reno Corporation Disposed of One of Its Segments in the Second

question 12

Multiple Choice

Reno Corporation disposed of one of its segments in the second quarter and incurred a gain from disposal of discontinued segment of $300,000,net of taxes.What is the effect of this gain from disposal of discontinued segment?

• A)Increase each of the last three quarters' net income by $100,000
• B)Increase net income from operations for the year by $300,000
• C)Increase second quarter net income by $300,000
• D)Increase each quarter's net income by $75,000

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Definitions:

Organization's Members

Individuals who belong to and are actively involved in a particular organization, contributing to its activities and goals.

Congruence

Indicates a state of agreement, harmony, or compatibility between two or more aspects, such as values and actions.

Upward Communication

This refers to the process in which information flows from the lower levels of a hierarchy to the upper levels in an organization.

Work Improvements

encompasses efforts and initiatives aimed at enhancing job performance, productivity, and satisfaction within the workplace.