Only events that can be measured will be reflected in the journal entries

A division was sold that qualifies as a separate component according to GAAP regarding discontinued operations

a. as a component of operating income b. as a non-operating income item (other income or expense) c. as a discontinued operation d. as an item of other comprehensive income

Almost all companies use the conventional percentage-of-sales figure while budgeting for new product development

Indicate whether the statement is true or false