Answer the following statements true (T) or false (F)
1. Gains and losses on the sale of plant assets are always reported as discontinued operations.
2. Discontinued operations are reported without consideration of the income tax effects.
3. A company that reports a discontinued operation item must also report earnings per share for the
item.
4. Gains and losses on the sale of plant assets are reported as discontinued operations.
5. A company that reports a discontinued operation must also report earnings per share for this item in
the notes to the financial statements.
1. FALSE
2. FALSE
3. TRUE
4. FALSE - Explanation: Gains and losses on the normal sale of plant assets are reported as other income and (expenses) among continuing operations.
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Often, attractive opportunities are fairly close to markets the firm already knows.
Answer the following statement true (T) or false (F)
In the integrity-based approach to management, ethics is the responsibility of the
A. employees. B. outside stakeholders. C. shareholders. D. management.
Select the term from the list provided that best matches each of the following descriptions. Put the number of the term in the column for Your Answer. 
What will be an ideal response?
Julian died on November 1 and owned 100 shares of a New York Stock Exchange stock. The stock traded at a high of 100 and a low of 98 on November 1. It opened at 98 and closed at 100. On Julian's estate tax return, what will the per-share and total value of the stock be?
What will be an ideal response?