IFRS uses the idea of a disposal group, a group of assets and directly associated liabilities that a firm will dispose of as a group in a single transaction. The disposal group notion of IFRS envisions a larger unit than the component notion of U.S. GAAP. In the year that a firm decides to sell or otherwise dispose of a unit that qualifies as a(n) _____ it aggregates the assets and liabilities of
that unit on the balance sheet into four groups: current assets, noncurrent assets, current liabilities, and noncurrent liabilities.
a. continuing operation
b. discontinued operation
c. extraordinary gain or loss
d. impaired operation
e. paid-in-capital
B
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