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On October 28,2024 , a company committed to a plan to sell a division that qualified as a component of the entity according to GAAP
On October 28,2024 , a company committed to a plan to sell a division that qualified as a component of the entity according to GAAP regarding discontinued operations and was properly classifled as held for sale on December 31,2024 , the end of the company's fiscal year. The division's loss from operations for 2024 was $1,890,000 The division's book value and fair value less cost to sell on December 31 were $3,120,000 and $2,340,000, respectively. What before-tax amount(s) should the company report as loss on discontinued operations in its 2024 income statement? Multiple Choice No loss would be reported. $780,000 impairment loss included in continuing operations and a $1,890,000 loss from discontinued operations $2,670,000 loss $1,890,000 loss
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