Each of the following is an extraordinary item except the
A)effects of major casualties, if rare in the area.
B)effects of a newly enacted law or regulation.
C)expropriation of property by a foreign government.
D)losses attributable to labor strikes.

Question

Quizplus · Accepted Answer

Losses attributable to labor strikes are not considered extraordinary items because they are not unusual or infrequent in nature. Extraordinary items are events that are both unusual and infrequent, such as expropriation of property or effects of major casualties.

Each of the Following Is an Extraordinary Item Except the