A Transaction That Is Material in Amount, Unusual in Nature

question 10

Multiple Choice

A transaction that is material in amount, unusual in nature, but not infrequent in occurrence should be presented separately as a (an)

• A) Component of income from continuing operations, but not net of applicable income taxes
• B) Component of income from continuing operations, net of applicable income taxes
• C) Extraordinary item, net of applicable income taxes
• D) Prior period adjustment, but not net of applicable income taxes

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Definitions:

General-purpose Tables

Tables designed for wide-ranging uses or functions, rather than being specialized for a particular type of data or analysis.

Column Heads

Column heads are the titles or headings used at the top of columns in tables or spreadsheets to denote the content or category of the information listed below them.

Gantt Chart

A type of bar chart that illustrates a project schedule, showing the start and finish dates of various elements of a project.

Line Chart

A type of graph that displays information as a series of data points connected by straight line segments, useful for showing trends over time.