Non-Ordinary Items Resulting in Income or Loss

question 18

Multiple Choice

Non-ordinary items resulting in income or loss

• A)​include unusual but not infrequent gains.
• B)​are treated the same as ordinary items when calculating the effective tax rate.
• C)​are always treated as a total group when calculating the effective rate for the quarter.
• D)​are always excluded from interim reporting.

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Definitions:

Ratio of Price

The proportional relationship between the price of one thing and another, used to compare their values.

Fairness

A concept reflecting impartial and just treatment or behavior without favoritism or discrimination.

Negotiation Strategy

An approach or plan designed to achieve a desired outcome or goal during negotiations.

Objective Standard

A criterion or measure that is independent of personal feelings or opinions, used as a basis for comparison or judgment.