Which of the Following Items Should Be Classified as an Unusual

question 136

Multiple Choice

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

• A) gain on the retirement of a bond payable
• B) gain on a sale of a long-term investment
• 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:

Osteoarthritis

A degenerative joint disease characterized by the breakdown of cartilage and underlying bone, causing pain, swelling, and diminished motion in the affected joints.

Over-the-counter

Refers to drugs and medications that can be purchased without a prescription.

Anti-inflammatory drugs

Medications designed to reduce inflammation, relieving symptoms like swelling, pain, and redness, commonly used in conditions like arthritis and other inflammatory diseases.

Rheumatoid arthritis

A chronic inflammatory disorder affecting joints, causing pain, swelling, and potential loss of function, often autoimmune in nature.