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stiv31 [10]
3 years ago
8

In order for a loss on the disposal of a discontinued operation to be classified on the income statement as a discontinued opera

tion, it must be unusual in nature. True or False True False
Business
1 answer:
Fed [463]3 years ago
3 0

Answer:

False

Explanation:

When a company divests from a product line or shuts down one of it's operations which earlier formed part of it's core business, such a process is referred to as discontinuation of operations.

Loss arising out of disposal of discontinued operations yields tax benefits in the form of tax savings since such a loss is tax deductible.

The loss on the disposal of discontinued operations is reported in a separate section of the income statement.

Such losses are deducted from the income of continuing operations to arrive at the net income of an entity.

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The journal entry to record direct labor used in process costing is a(n): Multiple choice question. increase in assets and an in
amid [387]

Answer:

Increase In Assets and an increase in liabilities

Explanation:

DIRECT LABOUR can be seen or defined as the labour a person or an individual put in the production of goods and services in which they are been paid for as wages.

Therefore The journal entry to record DIRECT LABOR USED IN PROCESS COSTING is a(n):

INCREASE IN ASSETS and AN INCREASE IN LIABILITIES reason been that in direct labour used in process costing an increase in Asset will as well lead to Increase in Liabilities.

6 0
3 years ago
Fortune, Inc., is preparing its master budget for the first quarter. The company sells a single product at a price of S25 per un
alukav5142 [94]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Selling price= $25 per unit.

Sales (in units):

January= 45,000

February= 55,000

March= 50,000

The cost of goods sold is $14 per unit.

The gross profit is calculated using the following formula:

Gross profit= selling price - cost of goods sold

January:

Sales= 45,000*25= 1,125,000

COGS= 45,000*14= (630,000)

Gross profit= 525,000

February:

Sales= 55,000*25= 1,375,000

COGS= 55,000*14= (770,000)

Gross profit= 605,000

March:

Sales= 50,000*25= 1,250,000

COGS= 50,000*14= (700,000)

Gross profit= 550,000

5 0
3 years ago
1. A public relations manager plans to delegate crisis communications responsibilities to a subordinate. What characteristic wil
pashok25 [27]

The characteristic that the manager needs to assess of the subordinate prior to delegating responsibilities is:

  • Performance readiness

The type of leadership training that is being provided by the human resource director is:

  • Situational

<h3>What is Situational Leadership?</h3>

Situational leadership is seen when a manager delegates tasks based on the performance readiness of his staff.

The performance readiness in this case combines the ability of the person receiving the task and their willingness to execute the assigned task.

Learn more about situational leadership here:

brainly.com/question/14564324

#SPJ1

8 0
2 years ago
The Borio Company had an asset with an $8 book value and a $7 market value; it decided to distribute the asset as a property div
ankoles [38]

Answer:

The net income will decrease and also the total assets will also decrease

Explanation:

Here, we want to know the combined effect on net income and total assets of company that made a decision of distributing assets as a property dividend.

As the asset value is down the entry is asset (credit) and loss on asset (debit)

This will effect the net income as it will come down and total assets value also come down

7 0
3 years ago
There are ___ credit reporting companies
MariettaO [177]
There are 3 credit reporting companies
5 0
2 years ago
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