Which of the Following Is Correct

question 44

Multiple Choice

Which of the following is correct?

• A) Discontinued operations are shown as the last category after income from continuing operations.
• B) The discontinued operations section of the income statement consists only of the gain or loss on disposal of the discontinued component net of the tax effect.
• C) The discontinued operations section of the income statement consists only of the income or loss from operating the discontinued component net of the tax effect.
• D) The discontinued operations section of the income statement consists of the income or loss from operating the discontinued component net of the tax effect as well as the gain or loss on disposal of the discontinued component net of the tax effect.

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Definitions:

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A professional role focused on evaluating financial data and economic trends to guide senior management in making strategic business decisions.

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The concept of fairness in economics, which may refer to ownership interest in a company (as in stockholders' equity) or to a principle of justice and fairness in the distribution of wealth and resources.

Deadweight Loss

A societal expense arising from market inefficiency, happening when there is a mismatch between supply and demand.