Which of these could a retailing business in the Midwest classify as an extraordinary item?
A)a loss from employee embezzlement
B)a loss from a lower-of-cost-or market inventory write-down
C)a loss from selling a delivery truck at less than its book value
D)none of these are extraordinary items

Question

Quizplus · Accepted Answer

None of these options meet the criteria of an extraordinary item, which is an event or transaction that is both unusual in nature and infrequent in occurrence. All of the options listed are losses incurred in the normal course of business operations.

Which of These Could a Retailing Business in the Midwest