Popson Inc.incurred a material gain on the sale of land.This gain should be reported as:

Name: Popson Inc.incurred a material gain on the sale of land.This gain should be reported as:
Brand: Quizplus
Rating: 4.8 (45 reviews)

Question

Quizplus · Accepted Answer

The material gain on the sale of land is not related to the company's main business operations, so it cannot be reported as a gain or loss from discontinued operations. It should be reported as other revenues since it is a one-time transaction that doesn't fit into any other category of income or expense.