Material gains or losses on bond redemption are reported as an extraordinary item on the income statement.

Name: Material gains or losses on bond redemption are reported as an extraordinary item on the income statement.
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Material gains or losses on bond redemption are typically reported as part of continuing operations, not as extraordinary items, since extraordinary items are events that are both unusual and infrequent, which bond redemptions are not.

Material Gains or Losses on Bond Redemption Are Reported as an Extraordinary