Which of the Following Items,if Material in Amount Would Normally

question 30

Multiple Choice

Which of the following items,if material in amount would normally be considered an extraordinary item for reporting results of operations?

• A)Utilization of a net operating loss carryforward
• B)Gains or losses on disposal of a segment of a business
• C)Adjustments of accruals on long-term contracts
• D)Gains or losses from a fire

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Definitions:

Turbulent 1960s

A period marked by major social and political upheaval in the United States and globally, including civil rights movements, anti-war protests, and significant cultural shifts.

Proportional Representation

An electoral system in which parties gain seats in proportion to the number of votes cast for them.

Divided Representation

The condition in which different political parties control different branches of government or different chambers of a legislative body, leading to a division in policy-making authority.

Australian Ballots

Australian ballots are secret ballots that are prepared and distributed by the government and marked in private by voters, used to ensure the confidentiality of the vote.