An extraordinary item results from
A) a segment of the business being sold.
B) corporate income tax being paid.
C) a change from one accounting method to another acceptable accounting method.
D) a transaction or event that is unusual and occurs infrequently.

Question

Quizplus · Accepted Answer

An extraordinary item is defined as a transaction or event that is unusual and occurs infrequently. Choices A, B, and C are not examples of extraordinary items as they are more common occurrences in business operations.

An Extraordinary Item Results from