Which of the following would be considered an extraordinary item?
A)Losses from a labor dispute
B)Losses from a natural disaster
C)Writing-down inventory to lower-of-cost or market
D)Losses from the sale of property

Question

Quizplus · Accepted Answer

Losses from a natural disaster are considered extraordinary items because they are rare and significant events that are outside of the normal operations of a business. The other options are all considered normal business expenses or losses.

Which of the Following Would Be Considered an Extraordinary Item