Extraordinary Items

question 166

Multiple Choice

Extraordinary items:

• A)Are not reported on a corporate income statement.
• B)Are included in income from operations.
• C)Are unusual and infrequent.
• D)Include changes in accounting principle.
• E)Are disclosed before discontinued operations on the income statement.

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Definitions:

Interdependence

A relationship between entities where each is mutually dependent on the other, often used to describe economic or ecological systems.

Acculturation

The process of adopting the cultural traits or social patterns of another group, especially by contact and interaction.

Diffusion of Responsibility

A sociopsychological phenomenon whereby a person is less likely to take responsibility for action or inaction when others are present.

Just-World Hypothesis

The belief that the world is fundamentally fair, leading people to rationalize an otherwise inexplicable injustice as deserved by the victim.