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22 April, 05:55

A loss from the disposal of a significant component of a business should be reported separately in the income statement: after income from continuing operations. before income from continuing operations. after other comprehensive income. before income before income taxes.

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  1. 22 April, 06:02
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    Answer: Option 1 After income from continuing operations.

    Explanation:

    A disposal account shows the profit or loss from the sale of any asset. When the sale price is higher than the book value of the component then it is a gain. When the sale price is less than book value then it is a loss.

    Loss from the sale of component will reduce the income of the business. When there is a loss it is debited in the income statement. This appears below the operations income and it is deducted from the revenue to show the actual value of the revenue.
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