A loss due to discontinued operations should be reported on the income statement

a. before extraordinary items.
b. before income taxes expense.
c. after net income.
d. after extraordinary items.


A

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An agreement of a seller to supply a buyer with all of the buyer's requirements for certain goods is known as:

a. an output contract. b. a requirements contract. c. a firm offer. d. promissory estoppel.

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