A gain or loss that qualifies for extraordinary treatment on the income statement must have which of the following qualities? I. Unusual in Nature II. Discontinued Segment III. Infrequent in Occurrence IV. Nonoperating in Nature V. Never Occurred
a. I and V
b. III and IV
c. I and III
d. I, II, and III
c
You might also like to view...
In order to use a process costing system, products produced should be homogenous in nature
Indicate whether the statement is true or false
As products enter the growth stage of the product life cycle, prices generally begin to stabilize
Indicate whether the statement is true or false a. True b. False
Grandpa owns a farm. In a signed writing, Grandpa gave Sue the irrevocable right to use a road on his farm so that Sue could more easily reach her own property. What kind of interest in land did Grandpa give to Sue?
a. Easement appurtenant b. Easement by implication c. Reserved easement d. Easement by prescription
Most federal judges must be both appointed by the President and:
a. confirmed by popular vote in a general election b. confirmed by the House of Representatives c. confirmed by the Vice President d. confirmed by the Speaker of the House e. none of the other choices is correct