Which of the following is considered an unusual item affecting the prior period's income statement?
A) Change in accounting principles
B) Fixed asset impairments
C) Extraordinary item
D) Discontinued operations

Question

Quizplus · Accepted Answer

A change in accounting principles is considered an unusual item affecting the prior period's income statement because it requires retrospective application to prior periods, impacting their reported results.

Which of the Following Is Considered an Unusual Item Affecting