In the Current Year, a Firm Has Decided to Dispose

question 95

Multiple Choice

In the current year, a firm has decided to dispose of a segment. Disposal will take place in the next (subsequent) year. Use the following symbols to answer this question on reporting for discontinued operations: P = income on discontinued segment from beginning of current year to date of disposal decision
Q = income on discontinued segment from date of disposal decision to end of current year
R = estimated loss of discontinued segment sale of assets in subsequent year to date of disposal of segment
When determining the amount to disclose as the gain or loss on disposal of the segment for the current period, which of the following should be considered:

• A) P, Q and R
• B) P and Q only
• C) Q and R only
• D) None of P, Q or R

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Definitions:

Behaviors

Actions or reactions of an individual, usually in relation to the environment or social situations.

Providing Praise

The act of expressing approval or admiration towards someone's achievements or qualities.

Recognition

The acknowledgment or appreciation of an individual's or group's achievements, efforts, or qualities.

Community Relations

The practice of maintaining and fostering a positive relationship between an organization and the communities it operates within.