Which of the Following Items Would Be Included in the Discontinued

question 24

Multiple Choice

Which of the following items would be included in the discontinued operations section of the income statement?

• A) Profit or loss from operating the segment prior to its disposal.
• B) The gain or loss on disposal of the segment.
• C) Both a and b above.
• D) Only losses and not gains on the disposal of a segment.

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Definitions:

Price Level

The general level of prices for goods and services in the economy at a given time.

Fixed-Weight Price Index

An economic measure that calculates price changes over time, holding the quantity of goods and services constant to avoid the effect of substitution.

Nominal Gross Domestic Product (GDP)

A rephrased term for Nominal GDP, referring to the market value of all final goods and services produced within a country in a year, unadjusted for inflation.

GDP Price Index

An economic metric that accounts for inflation by converting output measured at current prices into constant-dollar GDP.