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Find what an event or transaction should be

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Reference no: EM132676391

Problem 1: In order to be classified as an extraordinary item in the income statement, an event or transaction should be

a. unusual in nature, infrequent, and material in amount.

b. unusual in nature and infrequent, but it need not be material.

c. infrequent and material in amount, but it need not be unusual in nature.

d. unusual in nature and material, but it need not be infrequent.

Reference no: EM132676391

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