Which of the Following Would Be Treated as an Extraordinary

question 12

Multiple Choice

Which of the following would be treated as an extraordinary item?

• A) Expropriation of an entity's operations in a foreign country
• B) The write-down of inventory due to obsolescence
• C) A loss resulting from a strike by workers against an entity
• D) The write-off of accounts receivable not expected to be collected

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Definitions:

U.S. Tariff

A tax imposed by the United States government on imports or exports of goods.

Oil

A fossil fuel that is used primarily for energy production and as a raw material in the manufacturing of plastics and other chemicals.

Domestic Quantity

The total amount of a good or service produced within a country's borders and available for consumption or sale in the domestic market.

Supplied

Refers to the amount of a good or service that producers are willing and able to sell at a given price.