In the GASB Reporting Model, Extraordinary Items and Special Items

question 18

True/False

In the GASB reporting model, extraordinary items and special items must be reported as separate line items below General Revenues in the statement of activities to distinguish these nonrecurring items from normal recurring general revenues.

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Definitions:

Violent Action

Can describe scenes or themes in art and literature that involve physical force, conflict, or aggression, often depicted to elicit emotional engagement or convey intense narratives.

Palazzo Medici

A Renaissance palace in Florence, Italy, designed for the Medici family, showcasing the wealth and power of this influential banking dynasty.

Baptistery of San Giovanni

A historic religious building in Florence, Italy, known for its octagonal structure, mosaic interior, and bronze doors with relief sculptures.

Primavera

A Renaissance painting by Sandro Botticelli, depicting a mythological scene with figures from classical antiquity in a garden, symbolizing spring.