Which Item Is Not a Special Item That Must Be

question 11

Multiple Choice

Which item is not a special item that must be disclosed separately on the income statement?

• A)Extraordinary gain.
• B)Extraordinary loss.
• C)Foreign currency translation adjustments.
• D)Discontinued operations.

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Definitions:

Nonfraudulent Misrepresentation

An unintentional provision of false information that leads another to enter into a contract without the intent to deceive.

Out-of-Pocket Damages

Expenses or losses borne directly by an individual or entity due to another party's actions or inactions.

Punitive Damages

Monetary compensation awarded to a plaintiff, over and above actual damages, intended to punish the defendant for particularly egregious behavior.

Consequential Damages

Additional losses suffered as a direct consequence of a breach of contract, beyond the immediate scope of the contract itself.