When a Business Segment Is Discontinued During the Year,the Gain

question 40

Multiple Choice

When a business segment is discontinued during the year,the gain or loss on disposal

• A) is reported as an extraordinary item.
• B) should include only the loss or income from operating the discontinued segment for the current period.
• C) excludes only the gain or loss on disposal of the segment.
• D) should be shown net of applicable income taxes.

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Definitions:

Knowledge Management

The systematic process of creating, sharing, using, and managing the knowledge and information of an organization.

Electronic Storage

The process of storing data and information digitally on electronic systems or devices such as hard drives, SSDs, or cloud storage.

Retrieval

The process of getting information or objects back from somewhere, especially from memory.

Face-to-face

Direct interaction between two or more people in the same physical space, without the use of electronic communication devices.