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Multiple choice: Define a discontinued operation

Which of the following events represents a discontinued operation?

a. The elimination of a major product line
b. The destruction of business property in South Texas by a 100-year flood
c. A change in the estimated useful life of an asset
d. A change from the straight-line depreciation method to the double-declining balance depreciation method
e. The bankruptcy declaration of a business

Solution Summary

The solution provides the answer and also explains why the other answers are not correct.