An Item Must Be Outside the Ordinary Operations of the Business

question 37

True/False

An item must be outside the ordinary operations of the business or be of a non-recurring nature to be classified as an extraordinary item under AASB 101.

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Definitions:

Begging the Question

A logical fallacy where the conclusion of an argument is assumed in the premise, often leading to a circular argument.

Premises

Statements or ideas that serve as the basis or starting point for further argument or reasoning within logical, philosophical, or rhetorical discourse.

Conclusion

The statement that logically follows from the premises in an argument.

Division

A mathematical operation where a number (the dividend) is divided by another number (the divisor) to produce a quotient.