Which of the Following Would Appear as an Extraordinary Item

question 139

Multiple Choice

Which of the following would appear as an extraordinary item on the income statement?

• A) loss resulting from the sale of fixed assets
• B) gain resulting from the disposal of a segment of the business
• C) loss from land condemned for public use
• D) liquidating dividend

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Definitions:

Continuous Improvement

An ongoing effort to enhance products, services, or processes through incremental adjustments or innovations.

Employee Participation

Employee participation involves engaging employees in decision-making processes within an organization, leading to increased motivation and commitment.

Team Building

Activities and exercises designed to strengthen relationships and improve cooperation among team members.

Maintenance Leadership

Leadership focused on maintaining the current state of operations and ensuring that organizational processes run smoothly.