Advanced Accounting 12th Edition by Joe Ben Hoyle,Thomas Schaefer , Timothy Doupnik

Exercise 17

For interim financial reporting, an extraordinary gain occurring in the second quarter should be
a. Recognized ratably over the last three quarters.
b. Recognized ratably over all four quarters, with the first quarter being restated.
c. Recognized in the second quarter.
d. Disclosed by footnote only in the second quarter.