During the selection process for an IT position, Jeff was required to take a test that measured his memory and vocabulary. Which type of test did Jeff most likely take?

Which of the following is a required disclosure in the income statement when reporting the disposal of a component of the business?

a. The gain or loss on disposal should be reported as an extraordinary item. b. Results of operations of a discontinued component should be disclosed immediately below extraordinary items. c. Earnings per share from both continuing operations and net income should be disclosed on the face of the income statement. d. The gain or loss on disposal should not be segregated, but should be reported together with the results of continuing operations.

The properties used in operation activities of a business is call:

a. Revenue b. Withdrawal c. Assets d. Expense e. Liabilities