Which item is not a special item that must be disclosed separately on the income statement?
A)Extraordinary gain.
B)Extraordinary loss.
C)Foreign currency translation adjustments.
D)Discontinued operations.

Question

Quizplus · Accepted Answer

Foreign currency translation adjustments are not considered special items that require separate disclosure on the income statement. Extraordinary gains and losses and discontinued operations are specifically noted as items that require separate disclosure.

Which Item Is Not a Special Item That Must Be