Which of the Following Material Gains/losses Would Be Disclosed as an Extraordinary

question 1

Multiple Choice

Which of the following material gains/losses would be disclosed as an extraordinary item on an entity's income statement?

• A)a loss arising from the write-off of a large uncollectible accounts receivable balance
• B)a loss arising from the expropriation of a manufacturing plant by a foreign government
• C)a gain from sale of a component of the entity's business
• D)a gain from the sale of manufacturing equipment no longer needed by the entity

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Definitions:

Grief

The complex emotional response to loss, particularly of someone or something to which a bond was formed, characterized by feelings of sadness, yearning, and longing.

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A global network of computers that facilitates information sharing and communication across the world through a variety of protocols and services.

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Issues related to how individuals perceive themselves and how they are perceived by others, often relevant to social, cultural, and personal development.

Worldview

The fundamental cognitive orientation of an individual or society encompassing the entirety of the individual or society's knowledge and point of view.