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Question To qualify as an extraordinary item, a gain or loss must: 18 Select one: Not yet answere Marked out of 1 ed a. Affect the income of a prior period. b. Be associated with a segment of the business that has been discontinued during the current Fing ouestionperiod O c. Be material in amount, unusual in nature, and not expected to recur O d. Be larger in amount than any other item in the income statement
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Answer #1

An Extraordinary Item is a item which is not of regular nature and also not part of the routine activity of business like loss due to earthquake, riots etc.

So the answer is C

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