The Sale or Disposal of a Significant Component of a Company's

question 66

Multiple Choice

The sale or disposal of a significant component of a company's operations is referred to as:

• A)A discontinued operation.
• B)An extraordinary item.
• C)Other revenues and expenses.
• D)Gain or loss on sale of assets.

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Definitions:

Bakke Case

A landmark decision by the U.S. Supreme Court in 1978 that ruled on the constitutionality of affirmative action policies in educational admissions processes.

Supreme Court

The highest federal court in the United States, which has the ultimate appellate jurisdiction and holds the power of judicial review.

Affirmative Action

Policies or measures that favor individuals belonging to groups known to have been discriminated against previously.

Constitutionality

The quality or state of being in accordance with the constitution, or being constitutionally valid.