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If an Investment in an Associate Is Sold at a Gain

Question 119

Multiple Choice

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


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

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