Which of the Following Is a Recurring Item

question 3

Multiple Choice

Which of the following is a recurring item?

• A) equity in earnings of nonconsolidated subsidiaries
• B) error of a prior period
• C) discontinued operations
• D) extraordinary gain
• E) cumulative effect of change in accounting principle

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Definitions:

Logrolling

A practice in politics where two or more parties agree to vote for each other's proposed legislation or interests, often regardless of merit.

Marginal Benefit

The additional satisfaction or value gained from consuming or producing one more unit of a good or service.

Tax Cost

The financial charges associated with taxation, including the actual tax payment as well as any related compliance or administrative expenses.

Resources Allocation

The process of distributing available resources among various competing needs and desires to achieve optimal efficiency.