Which of the Following Statements Is True Regarding the Reporting

question 40

Multiple Choice

Which of the following statements is true regarding the reporting of discontinued operations?

• A)The impact that the discontinued operations had on any previous year results is not shown for comparative purposes.
• B)The income or loss, net of taxes, of the discontinued operations is reported as a separate component of income from continuing operations.
• C)Earnings per share data are not reported separately for discontinued operations.
• D)By reporting discontinued operations as a separate item, net of taxes, all of the effects of the discontinued business segment are excluded from the revenues, expenses, gains, and losses of continuing operations.