How Should the Gain or Loss That Is Considered Infrequent

question 67

Multiple Choice

How should the gain or loss that is considered infrequent but not unusual in nature be disclosed?

• A)separately in the income statement immediately after income from continuing operations
• B)on a net-of-tax basis in the income statement immediately after income from continuing operations
• C)as an extraordinary item
• D)separately in the income statement as a component of income from continuing operations

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Definitions:

Defect Levels

The classification or rating of defects in products, often used in quality control to indicate the severity of the defect.

Time to Market

The period it takes from a product being conceived until its being available for sale to consumers, emphasizing the importance of speed in product development cycles.

Numerical Facts

Quantitative data that represent measurable amounts or statistics.

Measurement Process

The methodical series of steps or actions taken to quantify or assess characteristics of interest within a given system or subject.