We report any profits or losses on discontinued operations in the current year,separately from profits and losses on the portion of the business that will continue.

Question

Quizplus · Accepted Answer

This statement is true. Discontinued operations are reported separately from continuing operations in the financial statements, including the income statement. The purpose is to provide users of financial statements with a clear picture of the financial performance of the business, both current and future. By presenting discontinued operations separately, it is possible to show the impact of the decision to discontinue a particular business segment on the overall financial performance of the company.

We Report Any Profits or Losses on Discontinued Operations in the Current