Which of the Following Is Required to Be Disclosed, Pursuant

question 84

Multiple Choice

Which of the following is required to be disclosed, pursuant to GAAP?

• A) operating income or loss from discontinued component reported on the income statement
• B) a description of facts and circumstances leading up to the sale of a discontinued component within the notes of the financial statements
• C) all gains or losses from sale of the component reported on the income statement or in the footnotes
• D) all of these

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Definitions:

Sample Space

Every conceivable outcome that a statistical trial might produce, gathered together.

Experiment

An experiment is a methodologically designed study that manipulates variables to determine their effect on an outcome, allowing for the testing of hypotheses and cause-and-effect relationships.

Outcome

The result or consequence of an action, experiment, or process, often used in statistical analyses to describe the possible results of a study or trial.

Event

An occurrence or happening, especially one of significance and often timed, such as a meeting, conference, or sports game.