Which of the following best describes discontinued operations on the income statement?

Question

Quizplus · Accepted Answer

Discontinued operations refer to the income or loss from segments of the business that have been sold, terminated, or disposed of. This is reported separately on the income statement, as it is not part of the ongoing normal operations of the business. Option A refers to gains and losses from transactions that are not part of normal operations, which could include items such as investments or foreign exchange gains/losses. Option C refers to items such as restructuring costs or impairment charges, while option D refers to the income or loss from the ongoing operations of the business.

Which of the Following Best Describes Discontinued Operations on the Income