Which of the following items is most likely to be reported as an extraordinary loss?

Question

Quizplus · Accepted Answer

Uninsured losses from a natural disaster are considered to be outside of the normal course of business activities and are therefore reported as extraordinary losses. Losses due to the write-down of inventory, losses on sale of long-term assets, and losses due to business restructuring are not considered to be extraordinary losses.

Which of the Following Items Is Most Likely to Be