Intermediate Accounting 14th Edition

Published by Wiley
ISBN 10: 0470587237
ISBN 13: 978-0-47058-723-2

Chapter 4 - Income Statement and Related Information - Questions - Page 187: 16c

Answer

This event can be recorded as either an unusual (if infrequent) loss or expense in a distinct section.

Work Step by Step

However, though the event can be infrequent or unusual (but not both), it should not be recorded as an extraordinary item.
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