In the current year, a firm has decided to dispose of a segment. Disposal will take place in the next (subsequent) year. Use the following symbols to answer this question on reporting for discontinued operations: P = income on discontinued segment from beginning of current year to date of disposal decision
Q = income on discontinued segment from date of disposal decision to end of current year
R = estimated loss of discontinued segment sale of assets in subsequent year to date of disposal of segment
When determining the amount to disclose as the gain or loss on disposal of the segment for the current period, which of the following should be considered:
A) P, Q and R
B) P and Q only
C) Q and R only
D) None of P, Q or R

Question

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The Answer of In the current year, a firm has decided to dispose of a segment. Disposal will take place in the next (subsequent) year. Use the following symbols to answer this question on reporting for discontinued operations: P = income on discontinued segment from beginning of current year to date of disposal decision
Q = income on discontinued segment from date of disposal decision to end of current year
R = estimated loss of discontinued segment sale of assets in subsequent year to date of disposal of segment
When determining the amount to disclose as the gain or loss on disposal of the segment for the current period, which of the following should be considered:
A) P, Q and R
B) P and Q only
C) Q and R only
D) None of P, Q or R

In the Current Year, a Firm Has Decided to Dispose