Which of the Following Would Be Considered an Extraordinary Item

question 47

Multiple Choice

Which of the following would be considered an extraordinary item?

I. Write-down of receivables
II. Gains on disposal of a business segment
III. Loss of inventory resulting from a fire
IV. Loss resulting from a strike

• A)I and IV
• B)I, III, and IV
• C)III only
• D)I, II, and III

---

Definitions:

Farm Price-Support Programs

Government initiatives designed to stabilize or increase prices of agricultural products by buying excess supply, providing subsidies, or setting minimum prices.

Consumers

People or organizations who buy products and services for their own consumption.

Low-Income Consumers

Individuals or households with earnings that fall below a certain threshold, often qualifying them for specific benefits or considerations.

Domestic Farm Subsidies

Financial supports provided by a government to domestic farmers to supplement their income, manage the supply of agricultural commodities, and influence the cost and supply of such commodities.