Asked by Carol Hersan on Jul 06, 2024
Verified
The disposal of a significant component of a business is called
A) other comprehensive income.
B) unrealized gain or loss.
C) an other expense.
D) discontinued operations.
Discontinued Operations
Components of a business, such as a department or segment, that have been disposed of or are designated for disposal.
Significant Component
A major part or element of a larger system that plays a critical role in the system's overall function or performance.
- Determine and elucidate the elements and importance of discontinued operations within financial statements.
Verified Answer
MP
Megha PatelJul 11, 2024
Final Answer :
D
Explanation :
Discontinued operations refers to the disposal of a significant component of a business. Other comprehensive income, unrealized gain or loss, and other expenses refer to different accounting concepts.
Learning Objectives
- Determine and elucidate the elements and importance of discontinued operations within financial statements.
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