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20. The impact of income taxes on discontinued operations is to reduce gains associated with the...

20. The impact of income taxes on discontinued operations is to reduce gains associated with the discontinuance, but increase the amount of losses.

True or False
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Answer #1

Impact of income taxes on discontinued operation is to reduce gain associated with the discontinuance and to reduce loss associated with it. A loss on discontinued operations would be reduced by the income tax savings associated with the loss.

So the statement above is False.

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