The discontinued operations section of the statement of income refers to
A)discontinuance of a product line.
B)the net income or loss on products that have been completed and sold.
C)sale of obsolete equipment and discontinued inventory items.
D)the disposal of a major line of business or major geographical area of operations.

Question

Quizplus · Accepted Answer

The discontinued operations section of the income statement specifically refers to the disposal of a significant segment of a business, such as a major line of business or a major geographical area of operations, rather than regular operational income or losses, sale of obsolete equipment, or discontinuance of a product line.

The Discontinued Operations Section of the Statement of Income Refers