Why should a gain or loss on discontinuing operations be disclosed separately on the income statement?
Question:
Why should a gain or loss on discontinuing operations be disclosed separately on the income statement?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (2 reviews)
Answered By
Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal.
I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
4.00+
2+ Reviews
10+ Question Solved
Related Book For
Financial Accounting A Global Approach
ISBN: 9780395839867
1st Edition
Authors: Sidney J. Gray, Belverd E. Needles
Question Posted:
Students also viewed these Business questions
-
Define intraperiod income tax allocation and explain how it affects the preparation of the income statement
-
I need to do this work. Income statement: determine gross profit, income from operations, and net income for the last two years. Comment on the increases or decreases in these amounts. Balance sheet:...
-
get an anwer and solution of problem in both paper 1 full disclousure second revenue recognition IV. Test Questions and Solutions Chapter 1 Multiple Choice 1. What basic financial statements can be...
-
DS Unlimited has the following transactions during August. August 6 Purchases 88 handheld game devices on account from GameGirl, Inc., for $290 each, terms 1/10, n/60. August 7 Pays $490 to Sure...
-
For each of the models listed below, predict y when x = 2. a) y = 1.2 + 0.8 logx b) log y = 1.2 + 0.8x c) ln y = 1.2 + 0.8 lnx d) y 2 = 1.2 + 0.8x e) 1 / y = 1.2 + 0.8x
-
Which statement is wrong? There are a number of concepts that underpin systems theory and these various concepts may be listed: a. connected components b. unaffected by being in a system c. assembly...
-
Explain why you would be more likely to purchase this product online or at a physical retailer in the future. Miniproject 2 Theme and entertainment parks like Universal Studios fall in the middle of...
-
Donelson Corporation was organized on January 1, 2010. It is authorized to issue 20,000 shares of 6%, $40 par value preferred stock, and 500,000 shares of no-par common stock with a stated value of...
-
This year, Sally sold equipment she had previously used in her sole proprietorship business. The equipment had an adjusted tax basis to Sally of $40,000 and the accumulated depreciation on the...
-
Explain the two major criteria for extraordinary items. How should extraordinary items be disclosed in the financial statements?
-
Exxon Corporation of the U.S. had about \(\$ 11.1\) billion of deferred income taxes in 1992, equal to about 20 per cent of total liabilities. This percentage has risen or remained steady for many...
-
Which bank is the worlds largest? Prior to the merger of Citicorp and Travelers in 1998, it was the Hongkong and Shanghai Banking Corporation (HSBC). By 2018, HSBC was the worlds seventh largest...
-
1. What does the phrase "cost of quality" mean? How might using this statement assist a company in addressing its quality issues? 2. What key distinctions exist between total quality human resource...
-
Does productivity in terms of output per labor our insure a company will be profitable? Why or why not? What questions should be asked to test whether productivity has increased? How do these answers...
-
How do the four Ps of marketing (product, price, promotion, place) differ in international markets?
-
Do you agree with the societal or political forces? Why or why not? Support your assertions with credible sources
-
How do the global transformational leadership models comprise a work environment that sees the need for change and embraces the new changes?Explain
-
Multiple Choice Questions The following questions deal with audit risk and evidence. Choose the best response. a. As the acceptable level of detection risk decreases, an auditor may (1) Reduce...
-
Multiple Choice Questions: 1. The largest component of aggregate demand is? a. Government purchases. b. Net exports. c. Consumption. d. Investment. 2. A reduction in personal income taxes, other...
-
Los siguientes datos corresponden a las operaciones de Turk Company el ao pasado: Ventas $ 900 000 Utilidad operativa neta $ 36 000 Margen de contribucin $ 150 000 Activos operativos promedio $ 180...
-
Problem 16-16 Tax Shields (LO2) River Cruises is all-equity-financed with 53,000 shares. It now proposes to issue $280,000 of debt at an interest rate of 12% and to use the proceeds to repurchase...
-
In a process costing system, companies use predetermined overhead rates to apply overhead
Study smarter with the SolutionInn App