The date on which a gain or loss from the disposal of a segment of a business is measured is the: Multiple Choice date that the assets are sold. date that operations cease (if disposal is by abandonment). last day of the fiscal year in which the decision to dispose is made plan. date that the entity makes a formal commitment to disposal. Which of the following is NOT a generally practiced method of presenting the income statement? Multiple Choice Including corrections of errors made in a prior period. The consolidated statement of income. Including gains and losses from discontinued operations of a segment of a business in determining net income. The single-step income statement. How does an accountant exercise ethical professional judgment? Multiple Choice An accountant acts ethically and exercises judgment to be fair to all stakeholders. An accountant ensures that all companies use the same accounting estimates. An accountant ensures that another reasonably informed accountant can re- perform their calculations and achieve same result. An accountant looks at the needs of the shareholders. A corporation reported 19X1 net income of $156,000. On January 1, 19X1, 60,000 shares of common stock were outstanding. An additional 10,000 shares were sold and issued on April 1 and, 5,000 shares were purchased and retired on October 1. Earnings per share (rounded to the nearest cent) are: Multiple Choice $2.32. $2.36. $2.60. $2.40