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:

Power Distance

A cultural dimension that describes the extent to which people in a society accept or expect power inequalities among themselves.

Bypass

To avoid or circumvent an obstacle or regulation, often using an alternative path or method.

Submissively

In a manner that shows a willingness to conform to the authority or will of others, often by yielding one's own preferences.

Long-Term Orientation

A cultural dimension that reflects a society's attitude towards future challenges and opportunities, emphasizing perseverance and savings for future benefit.