When an Acquiree Disposes of a Business, the Gain or Loss

question 20

Multiple Choice

When an acquiree disposes of a business, the gain or loss is recognised in:

• A) retained earnings
• B) revaluation surplus
• C) the statement of profit or loss and other comprehensive income
• D) capital profits

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Definitions:

Spirit of Liberty

A principle or sentiment that champions freedom and the rights of individuals as paramount, often associated with democratic ideals and patriotic expressions.

Federal Troops

Military forces deployed by the government of a federation, especially referring to those used by the United States federal government during domestic interventions.

New Jersey Plan

New Jersey’s delegation to the Constitutional Convention’s plan for one legislative body with equal representation for each state.

Emancipation Requirement

Specific conditions or laws that mandate the freeing of slaves or enslaved individuals.