In Order to Be Classified as an Extraordinary Item in the Income

question 39

Multiple Choice

In order to be classified as an extraordinary item in the income statement, an event or transaction should be

• A) unusual in nature, infrequent, and material in amount.
• B) unusual in nature and infrequent, but it need not be material.
• C) infrequent and material in amount, but it need not be unusual in nature.
• D) unusual in nature and material, but it need not be infrequent.

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Definitions:

Innate Releasing Mechanism

A hypothetical mechanism in the brain considered to be triggered by specific stimuli, leading to certain patterns of behavior.

Social Releaser

A stimulus originating from one individual that triggers a social response or behavior in another individual.

Male Courtship Ritual

Involves the behaviors and activities performed by males in a species to attract a mate.

Consummatory

Relating to the completion of an action or process, such as the act of consuming food or drink.