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Revenues, expenses, gains, losses, and income tax related to a(n) must be removed from continuing operations and reported separately on the income statement. (

Sagot :

Revenues, expenses, gains, losses, and income tax related to "disconnected operation" must be removed from continuing operations and reported separately on the income statement.

What is disconnected operation?

In the event that a shared data repository has brief outages, disconnected operation allows a client to keep using it to obtain vital information.

The examples of disconnected operations are-

  • closure of a poorly performing section.
  • merger-related redundancies
  • a product line's sale
  • discontinuing services that are no longer needed.

Some key features of disconnected operations are-

  • Parts of a company's operations that have been sold off or discontinued are referred to as discontinued operations in accounting.
  • They are listed separately from continuing operations on the income statement.
  • Understanding which assets are being sold off when companies merge might help to clarify how a company will generate revenue in the future.

To know more about the income statement, here

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