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Indicate Whether the Following Items Would Be Reported as an Operating

Question 86

Essay

Indicate whether the following items would be reported as an operating cost or an unusual item in Kelly Corporation's income statement.If it is not unusual, state how the item should be recorded in the income statement.
A) Loss attributable to labour strike.B) Loss on sale of mining equipment.
C) Gain on the disposition of the company's retail operations.D) Loss from sale of FVTOCI securities.
E) Expropriation of property by a foreign government.

Correct Answer:

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A) Operating - operating income (company...

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