To Qualify as a Discontinued Operation, a Gain or Loss

question 117

Multiple Choice

To qualify as a discontinued operation, a gain or loss must:

• A) Affect the profit of a prior period.
• B) Be larger in amount than any other item in the income statement.
• C) Be associated with a segment of the business that has been discontinued during the current period
• D) Be material in amount, unusual in nature, and not expected to recur

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Definitions:

Savant Syndrome

A condition where someone with significant mental disabilities demonstrates profound and prodigious capacities or abilities in limited areas.

Emotional Intelligence

The ability to be aware of, control, and express one's emotions, and to handle interpersonal relationships judiciously and empathetically.

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A thought process or method used to generate creative ideas by exploring many possible solutions.

Emotional Intelligence

The capacity to be aware of, control, and express one's emotions, and to handle interpersonal relationships judiciously and empathetically.