If a material event is either unusual in nature or an infrequent occurrence it is classified on the income statement as a special or unusual item in continuing operations.

Question

Quizplus · Accepted Answer

This statement is true. A material event that is considered unusual in nature or infrequent in occurrence is treated as a special or unusual item in continuing operations on the income statement.

If a Material Event Is Either Unusual in Nature or an Infrequent