How Should an Unusual Item Not Meeting the Criteria for an Extraordinary

question 117

Multiple Choice

How should an unusual item not meeting the criteria for an extraordinary item be disclosed in the financial statements?

• A)Shown as a separate item in operating revenues or expenses if material and supplemented by a note if deemed appropriate.
• B)Shown in operating revenues or expenses if material but not shown as a separate item.
• C)Shown net of income tax after ordinary net earnings but before extraordinary items.
• D)Shown net of income tax after extraordinary items but before net earnings.

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Definitions:

AIDS

Acquired immune deficiency syndrome. A secondary immune deficiency that develops as the result of infection by the HIV virus.

Measles

A highly contagious viral disease characterized by fever, cough, and a distinctive rash, affect primarily children.

Unvaccinated Person

An individual who has not received vaccination against specific diseases.