Which of the Following Items Should Be Classified as an Unusual

question 136

Multiple Choice

Which of the following items should be classified as an unusual item on an income statement?

• A) gain on the retirement of a bond payable
• B) gain on a sale of a long-term investment
• C) loss due to a discontinued operation in Colorado
• D) selling treasury stock for more than the company paid for it

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Definitions:

Evaluate Ideas

The process of critically examining and assessing the feasibility, potential, or worth of new concepts or proposals.

Monitor Group

A collection of individuals or entities tasked with overseeing and reviewing activities, often in a research or organizational context.

Resolve Conflicts

The process of identifying and addressing differences that if left unchecked, can disrupt unity or cause disharmony.

Identify

The act of recognizing or establishing the identity of a person or thing.