Which One of the Following Types of Losses Is Excluded

question 139

Multiple Choice

Which one of the following types of losses is excluded from the determination of net income in income statements?

• A) Material losses resulting from transactions in the company's investments account.
• B) Material losses resulting from unusual sales of assets not acquired for resale.
• C) Material losses resulting from the write-off of intangibles.
• D) Material losses resulting from correction of errors related to prior periods.

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Definitions:

Social Norm

Unwritten rules or expectations for behavior in a given society or group that guide and constrain individual behavior, promoting social order and cohesion.

Drink Coffee

The act of consuming a beverage made by brewing roasted and ground beans from the Coffea plant.

Airline Meals

Pre-packaged meals served to passengers on airplanes, often varying in quality and choice depending on the airline and class of service.

Cortisol Response

The body's reaction involving the release of cortisol, a stress hormone, in response to stress or threat.