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Basic Question 6 of 13

For pre-2016 reporting under GAAP, transactions and events that are unusual in nature and infrequent in occurrence and material in amount are known as ______.

A. prior year adjustments
B. discontinued items
C. extraordinary items
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davcer And is the key
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I just wanted to share the good news that I passed CFA Level I!!! Thank you for your help - I think the online question bank helped cut the clutter and made a positive difference.
Edward Liu

Edward Liu

Learning Outcome Statements

describe the financial reporting treatment and analysis of non-recurring items (including discontinued operations, unusual or infrequent items) and changes in accounting policies

CFA® 2025 Level I Curriculum, Volume 2, Module 2.