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:

Eyes on the Prize

Maintaining focus on the ultimate goal or objective, despite challenges or distractions.

Groupthink

A phenomenon where the desire for group consensus and cohesiveness leads to poor decision-making processes and outcomes.

Maintaining Harmony

The act of keeping relationships or environments peaceful and cooperative.

Critically Thinking

The process of actively and skillfully conceptualizing, applying, analyzing, synthesizing, and evaluating information to reach an answer or conclusion.