An Event or Transaction Should Be Reported as an Extraordinary

question 111

True/False

An event or transaction should be reported as an extraordinary item if it is unusual in nature and if it occurs infrequently.

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Definitions:

Flushing

The process of becoming markedly red in the face and often other areas of the skin, typically as a result of strong emotions, heat, alcohol consumption, or certain medical conditions.

Unconditioned Response

An automatic, reflexive reaction that is elicited by a stimulus without any prior learning or conditioning.

Laid Off

The termination of employment due to the employer's decision often because of economic downturns or company restructuring, rather than the employee's performance.

Private Talk

Self-directed speech used by individuals, often in a way to organize thoughts, plan actions, or solve problems.