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What are the two characteristics that defines Extraordinary items? Unusual Nature Unplanned Infrequency of Occurence Both...

What are the two characteristics that defines Extraordinary items?


Unusual Nature

Unplanned

Infrequency of Occurence

Both A & C


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Answer #1

Ans: Both A & C is Correct Answer

Explanation:

Extraordinary items consists of

Gains or Losses
From events
That were unusual in nature and infrequency of Occurrence in nature
That were separately classified, presented, and disclosed on companies' financial statements.

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