Periodically Clients Discontinue a Particular Line of Operation by Shutting

question 53

Multiple Choice

Periodically clients discontinue a particular line of operation by shutting down or selling a line of business or a company,which usually occurs over at least several months.In these situations the client is to write down net assets to a best estimate of net realizable value and do which of the following?

• A)recognize a loss.
• B)recognize a gain.
• C)recognize a loss or a gain.
• D)not recognize any gain or loss.

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Definitions:

Plasma Cells

Specialized white blood cells that produce antibodies in response to infections.

Cytotoxic T cells

A type of immune cell capable of killing cancer cells, infected cells, and other cells that are deemed a threat to the organism.

Antibodies

Proteins produced by the immune system that recognize and bind to specific antigens to help protect the body from infection.

Antibody Blood Levels

The concentration of antibodies in the bloodstream, indicative of the body's immune response either to infections or to vaccines.