To Be an Extraordinary Item,an Event That Produces a Gain

question 31

True/False

To be an extraordinary item,an event that produces a gain or loss must be either unusual in nature or infrequent in occurrence.

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Definitions:

Treasury Bond

A government-issued debt instrument with a guaranteed interest rate, intended for long-term investment, with a maturity period exceeding ten years.

Boeing

A multinational corporation based in the United States that specializes in designing, manufacturing, and marketing airplanes, helicopters, rockets, satellites, and telecommunications gear.

Caterpillar

A multinational corporation known for manufacturing construction and mining equipment.

Callable Bond

A type of bond that can be redeemed by the issuer before its maturity date at a predetermined price at certain times during its life, often at a premium.