Generally accepted accounting principles deal with among other issues defining
Generally accepted accounting principles deal with, among other issues, defining a “component” and reporting the results of discontinued operations on a company’s income statement.

Required
Identify the elements of a company’s results of discontinued operations section of its income statement. Define the previously listed term and explain how the elements of the section are computed if the company sells a component in the same accounting period that its management decided to sell the component.

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