Which of the Following Should Be Classified as an Extraordinary

question 121

Multiple Choice

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

• A) gain on a sale of a long-term investment
• B) loss due to discontinued operations
• C) restructuring charges
• D) loss resulting from an infrequent natural disaster

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Definitions:

Cannes

An international film festival held annually in Cannes, France, known for showcasing new films of all genres, including documentaries, from around the world.

The Beguiled

A film that has seen two prominent adaptations (1971 and 2017), revolving around an injured Union soldier who finds himself on the premises of a Southern girls' boarding school, leading to jealousy and betrayal.

Presold

A marketing strategy wherein a product or content is sold or licensed before it is actually available to the public, commonly used in the publishing and film industries.

Todd Haynes

An American film director known for his work in independent films that often explore themes of identity and sexuality.