Which of the Following Items Should Be Classified as an Extraordinary

question 89

Multiple Choice

Which of the following items should be classified as an extraordinary item on a corporate income statement?

• A) Excess of the selling price over the cost of treasury stock
• B) Loss due to takeover of property by a foreign government
• C) Gain on the sale of a long-term investment
• D) Loss due to discontinued operations

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Definitions:

Impression Management

The process by which individuals attempt to control the perceptions others have of them, often to appear more favorable or competent.

Active Listening

A communication technique wherein the listener fully concentrates, understands, responds, and then remembers what is being said.

Attribution

In psychology, the process by which individuals explain the causes of behavior and events; in organizational behavior, it relates to how people perceive the actions of others in the workplace.

Self-Serving Bias

A cognitive bias where individuals attribute positive outcomes to their own actions and negative outcomes to external factors, protecting their self-esteem.