The Types of Nonrecurring Items That Must Be Separately Stated

question 73

Multiple Choice

The types of nonrecurring items that must be separately stated on an income statement include:

• A)gains or losses on equipment sales.
• B)gains or losses on discontinued operations.
• C)changes in expenses associated with a tax change.
• D)all of the above.

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Definitions:

Virtual Meetings

Online gatherings facilitated through internet-based platforms, allowing participants to communicate and collaborate from different locations.

Travel Costs

Expenses associated with traveling for business or personal reasons, including transportation, lodging, and meals.

Employee Fatigue

Employee fatigue refers to a state of extreme tiredness or exhaustion experienced by employees, often resulting from long hours, intense workloads, or stress.

Purpose

The reason for which something exists or is done, made, or used.