All of the items below are material items. However, which item should be presented in the income statement separately as an extraordinary item?
A. Foreign currency hedging losses.
B. Expropriation of oil field by Venezuelan government.
C. Almond crop failure in California.
D. Goodwill write-off.
Answer:B
All of the items below are material items. However, which item should be presented in the income statement separately as an extraordinary item?
A. Foreign currency hedging losses. B. Expropriation of oil field by Venezuelan government. C. Almond crop failure in California. D. Goodwill write-off.