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:

Categorical Loss

In data science, a loss function used in classification problems where the outcome is discrete and belongs to specific categories.

Stimulant Addiction

A psychological or physical dependency on substances that increase alertness, attention, and energy, often leading to harmful consequences.

Substance Use Disorder

A complex condition in which there is uncontrolled use of a substance despite harmful consequences, leading to clinically significant impairment or distress.

Harm Reduction

A set of practical strategies aimed at minimizing negative health, social, and legal impacts associated with drug use, sexual activity, and other potentially harmful behaviors.