Which of the following is considered an unusual item affecting the prior period's income statement?
A) a change in accounting principles
B) fixed asset impairments
C) sale of company stores in Florida
D) discontinued operations

Question

Quizplus · Accepted Answer

A change in accounting principle is considered an unusual item affecting the prior period's income statement as it involves a significant alteration in the way a company accounts for its transactions, which can significantly impact the financial statements. Fixed asset impairments, the sale of company stores, and discontinued operations are not considered unusual items affecting the prior period's income statement.

Which of the Following Is Considered an Unusual Item Affecting