Extraordinary Items Will Be Included in the Statement of Comprehensive

question 53

Multiple Choice

Extraordinary items will be included in the statement of comprehensive income:

• A) when they are material and need to be disclosed separately.
• B) when an item of revenue or expense is attributable to an event outside the ordinary course of business.
• C) when an expense or revenue is of a non-recurring nature.
• D) None of the given answers are correct.

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Definitions:

Social Trap

A situation where individuals or groups are unable to cooperate, resulting in negative outcomes for all involved due to conflicting interests.

Collective Bad

A situation or outcome that is detrimental to the well-being or interests of a group as a whole, often arising from individual actions that do not consider the collective good.

Individual Good

Benefits or positive outcomes focused on the well-being or interests of a single person.

Cognitive Control

The sense people have about the predictability or controllability of their situation.