Discontinuing a particular business segment is a non-recurring event,so it should be classified as an extraordinary item on the income statement.

Question

Quizplus · Accepted Answer

Discontinuing a particular business segment is not considered an extraordinary item as it does not meet the criteria of being both unusual and infrequent. It should be reported as a separate line item in the income statement under the category of discontinued operations.

Discontinuing a Particular Business Segment Is a Non-Recurring Event,so It