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Question(s) / Instruction(s):

A corporation closes a facility and moves to a new location. How would a loss on the disposal of the equipment at the closed facility be reported on an income statement?  

a)            A loss on the disposal of the equipment at the closed facility would be reported as an operating expense in net income from continuing operations.  

b)            A loss on the disposal of the equipment at the closed facility would be reported as a component of discontinued operations.  

c)            A loss on the disposal of the equipment at the closed facility would be reported as an extraordinary loss.  

d)            A loss on the disposal of the equipment at the closed facility would be reported as another loss in net income from continuing operations.  

 

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