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If an Investment in an Associate Is Sold at a Gain

Question 38

Multiple Choice

If an investment in an associate is sold at a gain, the gain


A) is reported as operating income.
B) is reported under a special section, "Discontinued Investments," on the statement of income.
C) is reported in the Other Income and Gains section on the statement of income.
D) contributes to gross profit on the statement of income.

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