To be considered an extraordinary item, an event must be
A)unusual
B)unusual or infrequent
C)infrequent
D)infrequent and unusual

Name: To be considered an extraordinary item, an event must be A)unusual B)unusual or infrequent C)infrequent D)infrequent and unusual
Brand: Quizplus
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Question

Quizplus · Accepted Answer

For an event to be classified as an extraordinary item under accounting standards, it must be both infrequent and unusual, meaning it does not occur often and is not typical of the normal activities of the entity.

To Be Considered an Extraordinary Item, an Event Must Be