Examlex
Which of the following should be classified as an extraordinary item on the income statement?
Sailboats
Sailboats are vessels propelled partly or entirely by sails and are used for navigation, racing, or recreation.
Surfboards
Sporting equipment used in the sport of surfing, designed to ride waves by standing or lying on them.
Production Possibility Frontier
A curve depicting all maximum output possibilities for two goods, given a set of inputs and production technology.
Efficient Allocation
The optimal distribution of resources among competing uses to maximize output or welfare.
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