Which of the following would not be considered a discontinued operation to be reported separately on the income statement?A company decides to discontinue all retail sales, which have accounted for 30% of its revenues, in its chain of locations and focus only on services.A company decides to close 10 of its 200 store locations due to poor performance at those locations.A manufacturer that produces and sells both lawn mowers and snow blowers has decided to discontinue the production and sale of snow blowers.A business that sells goods as both a wholesaler and a retailer has decided to close all of its retail outlets.

Some factors are to be considered for a discontinued operation to be reported separately on the…

Answered: Which of the following would not be…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Which of the following would not be considered a discontinued operation to be reported separately on the income statement?

A company decides to discontinue all retail sales, which have accounted for 30% of its revenues, in its chain of locations and focus only on services.
A company decides to close 10 of its 200 store locations due to poor performance at those locations.
A manufacturer that produces and sells both lawn mowers and snow blowers has decided to discontinue the production and sale of snow blowers.
A business that sells goods as both a wholesaler and a retailer has decided to close all of its retail outlets.

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