Extraordinary Items Will Be Included in the Income Statement

question 37

Multiple Choice

Extraordinary items will be included in the income statement:

• 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 a revenue is of a non-recurring nature.
• D) When an item of revenue or expense is attributable to an event outside the ordinary course of business and when an expense or a revenue is of a non-recurring nature.
• E) None of the given answers.

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Definitions:

Tertiary Datums

Reference points, lines, or surfaces on an object used in the hierarchical system of geometric dimensioning and tolerancing, serving as a secondary or third level of datum reference.

Target Points

Specific locations defined on a part or in a design intended to align, measure, or reference during manufacturing or assembly processes.

Primary Datum

A specific reference point, line, or surface used as a basis for dimensional control in design, manufacturing, and inspection processes.

Flat Surfaces

Flat surfaces refer to geometric planes that are smooth and even without curvatures or irregularities.