An item that should be classified as an extraordinary item is
A) write-off of goodwill.
B) gains from transactions involving foreign currencies.
C) losses from moving a plant to another city.
D) gains from a company selling the only investment it has ever owned.

Question

Quizplus · Accepted Answer

Extraordinary items are both unusual and infrequent. Selling the only investment a company has ever owned is an unusual and infrequent event, fitting the criteria for an extraordinary item.

An Item That Should Be Classified as an Extraordinary Item