Which of the following items is not likely to be considered an extraordinary item?
A)Loss from an unexpected union strike.
B)Condemnation of property by the city government.
C)Loss of use of property due to a new and unexpected environmental regulation.
D)Loss due to an earthquake in Florida.
E)Expropriation of property by a foreign government.

Question

Quizplus · Accepted Answer

Extraordinary items are events that are both unusual and infrequent. A loss from an unexpected union strike is not considered extraordinary because labor strikes, while potentially unexpected, are not infrequent in many industries.

Which of the Following Items Is Not Likely to Be