Extraordinary Gains and Losses Are Reported as a Part of Income

question 81

True/False

Extraordinary gains and losses are reported as a part of income from continuing operations on the income statement.

---

Definitions:

Adventitious Crisis

A crisis or emergency situation that arises suddenly, often due to an external event or disaster, requiring immediate response and intervention.

Riot

A violent disturbance by a crowd or mob, often in protest against something or someone.

Retirement

The process of leaving one's job or career and ceasing to work, typically due to age.

Mastectomy

A surgical procedure involving the removal of one or both breasts, partially or completely, often as a treatment for breast cancer.