A Gain or Loss That Qualifies for Extraordinary Treatment on the Income

Multiple Choice

A gain or loss that qualifies for extraordinary treatment on the income statement must have which of the following qualities? I. Unusual in Nature
II. Discontinued Segment
III. Infrequent in Occurrence
IV. Nonoperating in Nature
V. Never Occurred

A) I and V
B) III and IV
C) I and III
D) I, II, and III