
Concept Introduction:
Continuing operations:
Continuing operations section of the income statement includes the revenues and expenses related to normal & frequent operations of the business. In other words we can say that incomes & expenses which are result of normal operations of the business are reported under this section of the income statement.
Discontinued segment:
Discontinued segment section of the income statement includes the gains & losses from selling a segment of the business or closing down a particular segment of the business. In other words we can say that when a business entity closes a particular segment then income or loss of such segment is reported under this section of the income statement.
Reporting of items of income statement under suitable section

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Chapter 17 Solutions
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