In the estimation of value process, which of the following are true concerning discontinued operations?

I.The earnings from discontinued operations are explicitly shown in the income statement.

II.The netassetpositionofdiscontinuedoperations isdisclosedonthe balancesheet.

Ill. For an outside analyst, the most recent book value usually serves as a good estimate of the value of discontinued operations.

iv.The value of discontinued operations should be modeled as part of free cash flow or included inthe DCF value of operations.

a. I, II, and Ill only.

b. II and Illonly.

c. I and IV only.

d. I,II, III,and IV