Which of the Following Is True with Respect to Extraordinary

Multiple Choice

Which of the following is true with respect to extraordinary items?
I. Extraordinary items are recorded net of tax in income statement.
II. Extraordinary items, by definition, are probable and unusual in nature.
III. By definition, gains and losses from strikes are always extraordinary.
IV. By definition, gains and losses from sale of plant, property and equipment are never extraordinary.

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