Which of the Following Items Should Be Classified as an Extraordinary

question 169

Multiple Choice

Which of the following items should be classified as an extraordinary item on an income statement?

• A) gain on the retirement of a bond payable
• B) loss from hurricane damage in Iowa
• C) loss due to a discontinued operation in Colorado
• D) selling treasury stock for more than the company paid for it

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Definitions:

Yes Or No

A type of question or decision that requires a simple affirmative or negative response.

Misdiagnosis

The incorrect identification of a disease or condition, leading to inappropriate treatment or management.

Pertinent Information

denotes relevant or applicable data and facts directly related to a specific matter or situation.

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Being accountable or liable for something within one's power, control, or management.