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Several Businesses Along the Mississippi Gulf Coast Sustained Damage from Hurricane

Question 32

Multiple Choice

Several businesses along the Mississippi Gulf Coast sustained damage from Hurricane Carmen. Prior to Hurricane Carmen, this area has sustained damage from several other hurricanes. How should these businesses classify their losses from Hurricane Carmen?


A) Operating income
B) Discontinued operations
C) Extraordinary item
D) Non-operating loss
E) Net of tax non-operating income

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