Extraordinary items:
A) are rare because the rules are restrictive.
B) include gains and losses from sales of noncurrent assets.
C) are recurring and frequent in occurrence.
D) are included in the determination of gross profit.

Question

Quizplus · Accepted Answer

Extraordinary items are rare because they are defined as events that are both unusual and infrequent, making the rules for their classification restrictive.

Extraordinary Items