7 On October 28 2024 a company committed to a plan to sell a

Last updated: 10/2/2023

7 On October 28 2024 a company committed to a plan to sell a division that qualified as a component of the entity according to GAAP regarding discontinued operations and was properly classified as held for sale on December 31 2024 the end of the company s fiscal year The division s loss from operations for 2024 was 1 940 000 01 27 37 The division s book value and fair value less cost to sell on December 31 were 2 890 000 and 3 630 000 respectively What before tax amount s should the company report as loss on discontinued operations in its 2024 income statement Multiple Choice 1 940 000 loss 740 000 gain included in continuing operations and a 1 940 000 loss from discontinued operations h