All of the following statements regarding a business segment are True except: A)

Question

All of the following statements regarding a business segment are True except: A) A company's gain or loss from selling or closing down a segment is reported separately. B) A business segment is a part of a company's operations that serves a particular product line. C) A segment's income for the period prior to the disposal and the gain or loss resulting from disposing of the segment's assets are reported separately. D) A segment's income for the period prior to the disposal and the gain or loss resulting from disposing of the segment's assets are combined and reported. E) A segment has assets, liabilities, and financial results of operations that can be distinguished from those of other parts of the company.

Explanation / Answer

Answer)

My answer is option (C).

A segmensts net income for period prior to to disposal and gain or loss resulting from disposing of segments arrests needed not be shown separately but should be shown separately from continuing operations.

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