Information about a segment of the business that a company sells, abandons, or otherwise disposes of is reported in the:
A) Retained earnings statement
B) Comprehensive income of the income statement
C) Discontinued operations section of the income statement
D) Balance sheet

Question

Quizplus · Accepted Answer

Discontinued operations are reported in a separate section of the income statement to distinguish them from continuing operations, providing a clearer picture of ongoing business performance.

Information About a Segment of the Business That a Company