Extraordinary items and special items are reported
A) With normal recurring general revenues.
B) As separate line items in the Function/Programs section of the statement of activities.
C) As separate line items below General Revenues in the statement of activities.
D) As separate line items above General Revenues.

Question

Quizplus · Accepted Answer

Extraordinary items and special items are reported as separate line items below General Revenues in the statement of activities. This helps to distinguish them from the regular operating revenues and expenses of the organization.

Extraordinary Items and Special Items Are Reported