Which of the Following Is Considered an Unusual Item Affecting

question 138

Multiple Choice

Which of the following is considered an unusual item affecting the prior period's income statement?

• A) a change in accounting principles
• B) fixed asset impairments
• C) sale of company stores in Florida
• D) discontinued operations

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Definitions:

Ketone

Organic compounds featuring a carbonyl group (C=O) bonded to two carbon atoms, used in solvents and in the manufacture of various chemicals.

Enol

A chemical species characterized by a carbon-carbon double bond adjacent to an alcohol group, often in equilibrium with its keto form.

Equilibrium

A state in which the rates of the forward and reverse reactions are equal, leading to no net change in the concentration of reactants and products over time.

Iodoform Test

A chemical test for the presence of methyl ketones or secondary alcohols that can be oxidized to methyl ketones, indicated by the formation of a yellow precipitate.