The following items are extraordinary items EXCEPT:
A)loss due to hurricane damage of plant in Wisconsin.
B)loss of vehicles due to damage from blizzard in Southern California.
C)loss due to expropriation of company assets by a foreign government.
D)loss on lawsuit.

Question

Quizplus · Accepted Answer

Extraordinary items are events that are both unusual and infrequent. A loss on a lawsuit is not considered extraordinary because lawsuits are not unusual or infrequent in business operations.

The Following Items Are Extraordinary Items EXCEPT