A material loss should be presented separately as a component of income from continuing operations when it is
A) infrequent in occurrence but not unusual in nature.
B) infrequent in occurrence and unusual in nature.
C) a cumulative effect-type change in accounting principle.
D) an extraordinary item.

Question

Quizplus · Accepted Answer

A material loss that is infrequent in occurrence but not unusual in nature should be presented separately as a component of income from continuing operations.

A Material Loss Should Be Presented Separately as a Component