A discontinued operation must be? A discontinued operation must be?a) Any sold division b) A majorline of business orseparategeographicalunprofitablesubsidiaryareac)Anysegmentd)Any

Explanation of Discontinued Operation: A discontinued operation represents a major component of a…

Answered: A discontinued operation must be? a)…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter7: Operating Assets

Section: Chapter Questions

Problem 1DQ

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Oo.24. Subject :- Account
Multiple choice:
A disposal group may qualify as discontinued operation if a. it is component of an entity b. meets the held for sale classification criteria under PFRS 5 C. a and b d. none of these
Which of the below mentioned PPIs issued by an entity for facilitating the purchase of goods and services from that entity only a. Closed System PPI's b. Semi Closed System PPI's c. Open System PPI's d. NPCI
Please help
What are some examples of discontinued operations?
Which of the following is NOT a characteristic of the fixed asset system?a. acquisitions are routine transactions requiring general authorizationb. retirements are reported on an authorized disposal report formc. acquisition cost is allocated over the expected life of the assetd. transfer of fixed assets among departments is recorded in the fixed asset subsidiary ledger
FAR- Conceptual Framework Kindly help me answer the following: 11. Which is an implication of the going concern assumption? * a. Depreciation and amortization policies are justifiable and appropriate. b. The current and noncurrent classification of assets and liabilities is justifiable and significant. c. All of these are an implication of going concern. d. The historical cost principle is credible. 12. The concept of accounting entity is applicable * a. Only to business organisations b. Only to the economic aspects of business organizations c. Only to the legal aspects of business organizations d. Whenever accounting is involved 13. The overall objective of financial reporting is to provide information * a. That allows owners to assess management performance. b. About assets, liabilities and equity of an entity. c. That is useful for decision making d. About financial…
Also known as the historical cost principle, ________ states that everything the company owns or controls (assets) must be recorded at their value at the date of acquisition. A. revenue recognition principle B. expense recognition (matching) principle C. cost principle D. full disclosure principle
Which of the following is not a reason for the physical inventory count to differ from what is recognized on the companys books? A. mismanagement B. shrinkage C. damage D. sale of services to customers
______ is the act of using another company to provide goods or services that your company requires. A. Allocating B. Outsourcing C. Segmenting D. Leasing
PFRS 5 covers: 1. The classification, measurement and presentation ofassets ‘held for sale’ 2. The classification and presentation of discontinuedoperations 3. The impairment of long-lived assets to be held and used A. 1 and 3 onlyB. 2 and 3 onlyC. 1, 2 and 3 allD. 1 and 2 only

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A discontinued operation must be? a) Any sold division b) A major line of business or separate geographical unprofitable subsidiary area c) Any segment d) Any