Which of the Following Is Not a Characteristic of Extraordinary

question 90

Multiple Choice

Which of the following is not a characteristic of extraordinary items reported on the income statement?

• A) appear near the end of the income statement
• B) reported separately from continuing operations
• C) shown net of tax effects
• D) is shown as a combined amount with discontinued operations

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Definitions:

Quality

A measure of how good or suitable something is in comparison to similar items or services.

Seigniorage

Seigniorage is the profit made by a government by issuing currency, especially the difference between the face value of coins and their production costs.

Medium Of Exchange

An intermediary instrument, such as money, used to facilitate buying and selling goods and services.

Money

A medium of exchange that facilitates trade, serves as a unit of account, a store of value, and sometimes, a standard of deferred payment.