Which of the Following Is Considered an Unusual Item Affecting

question 105

Multiple Choice

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

• A) Change in accounting principles
• B) Fixed asset impairments
• C) Extraordinary item
• D) Discontinued operations

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Definitions:

Straight-Line Method

A depreciation method where an equal amount of depreciation expense is allocated for each year of the asset's useful life.