Suppose That the Footwear Division's Assets Had Not Been Sold

question 61

Multiple Choice

Suppose that the Footwear Division's assets had not been sold by December 31, 2013, but were considered held for sale. Assume that the fair value of these assets at December 31 was $40 million. In the 2013 income statement for Foxtrot Co., it would report a loss from discontinued operations of:

• A)$3 million loss.
• B)$10 million loss.
• C)$10.8 million loss.
• D)$18 million loss.

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