Items that are both unusual in nature and infrequent in occurrence are considered ________.
A)discontinued operations
B)extraordinary items
C)items of other revenues and expenses
D)changes in continuing operations

Question

Quizplus · Accepted Answer

Extraordinary items are items that are both unusual in nature and infrequent in occurrence. Discontinued operations refer to the disposal of a significant component of a company's operations, while items of other revenues and expenses are classified separately on the income statement. Changes in continuing operations refer to changes in the normal course of a company's operations.

Items That Are Both Unusual in Nature and Infrequent in Occurrence