Which of the Following Events Could Potentially Qualify for Reporting

question 63

Multiple Choice

Which of the following events could potentially qualify for reporting as an extraordinary item?

• A) A city government sells city hall.
• B) City Hall is hit by lightning and is significantly damaged by fire.
• C) The city offers employees an early retirement incentive package and 15 employees accept the offer.
• D) City has unexpected loss on sale of an investment in AT&T stock.

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Definitions:

Millimeters

A metric unit of length equal to one-thousandth of a meter.

Inches

A unit of linear measure in the Imperial and US customary systems, equal to 1/12 of a foot or 2.54 centimeters.

Conversion Formula

A mathematical equation used to change one set of units to another.

Pounds

A unit of weight in the imperial system, used primarily in the United States, equivalent to 0.453592 kilograms.