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Jim's Jeans Decided to Shut Down Their Jimmy Jean Division

Question 43

Multiple Choice

Jim's Jeans decided to shut down their Jimmy Jean Division. Where on the income statement would this closing be addressed?


A) Under extraordinary items at the bottom of the income statement.
B) As a note on the operating income section of the income statement.
C) Under discontinued operations at the bottom of the income statement.
D) As a deduction in the Net Profit section of the income statement.
E) An entry would be on the operating income section of the income statement.

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