When a company discontinues an operation and disposes of the discontinued operation (component), the transaction should...

 

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When a company discontinues an operation and disposes of the discontinued operation (component), the transaction should be included in the income statement as a gain or loss on disposal reported as a prior period adjustment. b. an extraordinary item. c. an amount after continuing operations but before extraordinary items. d. a bulk sale of plant assets included in income from continuing operations. a. When a company discontinues an operation and disposes of the discontinued operation (component), the transaction should be included in the income statement as a gain or loss on disposal reported as a prior period adjustment. b. an extraordinary item. c. an amount after continuing operations but before extraordinary items. d. a bulk sale of plant assets included in income from continuing operations. a.

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The correct answer is Option c In the income statement gain or loss from disposal ... View the full answer