Which of the following is true regarding discontinued operations?
a. If a loss is expected on disposal, the estimated loss is recognized in the financial statements as of the measurement date.
b. If a loss is expected on disposal, the estimated loss is recognized in the financial statements as of the disposal date.
c. If a loss is expected on disposal, recognition is deferred until realization.
d. If a gain is expected on disposal, the estimated gain is recognized in the financial statements as of the measurement date.
ANSWER: A
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Answer the following statement true (T) or false (F)
A company had net sales of $813,100 and cost of goods sold of $574,920. Its net income was $31,070. The company's gross margin ratio equals:
A. 36.0% B. 41.4% C. 26.1% D. 25.5% E. 29.3%
A(n) _______ question requires the respondent to answer with more than one word.
Fill in the blank(s) with the appropriate word(s).
The ________ is a treaty that has removed or reduced tariffs, duties, quotas, and other trade barriers among the United States, Canada, and Mexico
A) Free Trade Area of the Americas Treaty B) North American Free Trade Agreement C) Central America Free Trade Agreement D) General Agreement on Tariffs and Trade