Which of the following statements regarding a business segment is false? Multiple Choice A business segment is a part of a company that is separated by its products/services or by geographic location. A business segment has assets, liabilities, and financial results of operations that can be separated from those of other parts of the company. A gain or loss from selling or closing down a business segment is separately reported. The income tax effects of a discontinued business segment are combined with income tax from continuing operations. A Dusiness segment nas assets, napilities, and financial results or operations that can be separated from those of other parts of the company. A gain or loss from selling or closing down a business segment is separately reported. The income tax effects of a discontinued business segment are combined with income tax from continuing operations. A business segment's income for the period prior to the disposal and the gain or loss resulting from disposing of the segment's assets are reported separately