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Generally Accepted Accounting Principles (GAAP) MCQs

Which of the following would be considered a discontinued operation?

A dog food manufacturer decides to stop offering low fat dog food because it doesn't make money.

A library decides to stop carrying kids' novels.

A stock brokerage goes out of business.

A jacket manufacturer decides to sell its rain coat division which has its own plant.

Answer

Correct Answer: A jacket manufacturer decides to sell its rain coat division which has its own plant.

Explanation:

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