Which of the following would not be considered an example of a discontinued operation? Shifting production...
Which of the following would not be considered an example of a
discontinued operation?
Shifting production processes within an operation
Elimination of a major class of customers
Elimination of an entire activity
Disposal of a significant component of a business
Homework Answers
Option A
Shifting production processes within an operation
Shifting production processes within an operation doesn't involve any operations relating to either abandoning, selling or disposing off of operations
Add Answer to:
Which of the following would not be considered an example of a
discontinued operation?
Shifting production...
Given the following data for the Vaughn Company: Current liabilities $ 410 Long-term debt 390 Common...
Given the following data for the Vaughn Company: Current liabilities $ 410 Long-term debt 390 Common stock 690 Retained earnings 810 Total liabilities & stockholders’ equity $2300 How would common stock appear on a common size balance sheet? 22.0% 72.0% 30.0% 32.0% Analysis of the changes in all of the noncash balance sheet accounts will explain the change in the cash account. True False In horizontal or trend analysis, each item is expressed as a(n) amount. percentage. rate. amount or...
In the following circumstance, determine whether the disposal would qualify as a discontinued operation. The company...
In the following circumstance, determine whether the disposal would qualify as a discontinued operation. The company is a calendar year company, and the transactions are occurring in 2018. Give citations from the ASC to justify your answer. An entity manufactures and sells consumer products that are grouped into five major product lines. Each product line includes several individual products that comprise the lowest where operations and cash flows that can be clearly distinguished, operationally and for financial reporting purposes, from...
which of the following is considered a partnership termination? a. over 50% of the operations are...
which of the following is considered a partnership termination? a. over 50% of the operations are discontinued and no part of any business financial operation or venture is continued by any of its partners in a partnership b. all of the oprations are discontinued and no part of any business financial operation or venture is continued by any of its partner in a partnership c. over 50% of the operations are discontinued and less than 50% of the business financial...
Which of the following items does IFRS require to be disclosed but not necessarily presented on...
Which of the following items does IFRS require to be disclosed but not necessarily presented on the income statement? A. income of associates B. finance costs C. turnover D. litigation settlements 2. Which of the following is not a characteristic that must be considered when determining that a business activity is a component of an entity for purposes of classifying that activity as a discontinued operation? A. The activity comprises operations and cash flows. B. The activity can be clearly...
Which of the following items would be included in the discontinued operations section of the income...
Which of the following items would be included in the discontinued operations section of the income statement? A. The gain or loss on disposal of the segment. B. Both the income or loss from operating the segment prior to its disposal, and the gain or loss on disposal of the segment. C. Income or loss from operating the segment prior to its disposal. D. Only losses and not gains on the disposal of a segment. 2. All things being equal,...
which of the following costs would be considered a direct material? A. glue in the production...
which of the following costs would be considered a direct material? A. glue in the production of automobiles B. labor used to finish product C. paper used in the production of books D. depreciation on the corporations office building
Discontinued Operations-
Need to know whether each case is a discontinued operation and show jusification of each situation(the ASC codification) Part A: In each of the following circumstances, determine whether the disposal would qualify as a discontinued operation. All companies are calendar year companies and the transactions are occurring in 2018. Give citations from the ASC to justify your answer.1. An entity manufactures and sells consumer products that are grouped into five major product lines. Each product line includes several individual products that...
Which of the following activities would be considered to be an example of SECONDARY prevention? Clarifying...
Which of the following activities would be considered to be an example of SECONDARY prevention? Clarifying the use and effects of prescribed medications with a pharmacist Receiving an annual mammogram Eliminating offending allergens from asthmatic patients Receiving an immunization against influenza
On August 1, 20x1, Desert, Inc. adopted a plan to discontinue its children's clothing division, which...
On August 1, 20x1, Desert, Inc. adopted a plan to discontinue its children's clothing division, which qualifies as a component of the business according to GAAP. The disposal of the division was expected to be concluded by March 30, 20x2. On December 31, 20x1, Desert's fiscal year-end, the following information relative to the discontinued operation was accumulated: Operating Income (pre-tax) of the Component for Jan 1 - Dec 31, 20x1 S 658,000 Net Book Value of the Component at Dec...
Which of the following is considered as an important type of business processes? Select one: O...
Which of the following is considered as an important type of business processes? Select one: O A. Cross-departmental OB. Used solely by internal users O C. Based on work done across organizations D. Occurs solely within organizations
On August 1, 20x1, Desert, Inc. adopted a plan to discontinue its children's clothing division, which qualifies as a component of the business according to GAAP. The disposal of the division was expected to be concluded by March 30, 20x2. On December 31, 20x1, Desert's fiscal year-end, the following information relative to the discontinued operation was accumulated: Operating Income (pre-tax) of the Component for Jan 1 - Dec 31, 20x1 S 658,000 Net Book Value of the Component at Dec...
Which of the following is considered as an important type of business processes? Select one: O A. Cross-departmental OB. Used solely by internal users O C. Based on work done across organizations D. Occurs solely within organizations
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