أنشئ حسابًا أو سجّل الدخول للانضمام إلى مجتمعك المهني.
: B) Extraordinary items are unusual and infrequent, reported below the line separate from income from continuing operations on the income statement, and would include such items as: foreign government confiscation, earthquake damages, losses from volcanic eruptions, etc.
Option 2 is the right answer.
option2 is the correct answer and also it presented in a separate line net of tax after income from counting operations in income statement
I go with the Option3. Unusual or infrequent
extra ordinary items are unusual and infrequent
Income statements (whether single-step or multiple-step) report nearly all revenues, expenses, gains, and losses.
Sometimes rare or extraordinary events will occur during the income statement's time interval along with the normally recurring events. It's helpful to the reader of the statement if these unique items are segregated into a special section near the bottom of either the single-step or multiple-step income statement. These unique or rare items are:
1. Discontinued Operations
2. Extraordinary Items
When recording these items near the bottom of an income statement, it's required that you present them in the same order as they appear above. However, it is rare for a company to have either one of these items, and it is highly unlikely that a company will have both.
