Question

Write Common types of unusual or infrequent gains and losses

Answer 1

Common types of unusual or infrequent gains and losses in business include extraordinary items, discontinued operations, impairment losses, and gains or losses from currency exchange.

Step-by-step explanation:

Common types of unusual or infrequent gains and losses in business include:

• Extraordinary items: These are gains or losses that are both unusual and infrequent, such as the sale of a segment of the business or a natural disaster.
• Discontinued operations: These are gains or losses from the disposal or shutdown of a segment or product line of the business.
• Impairment losses: These are losses that result from a significant decrease in the value of an asset, such as goodwill or property, plant, and equipment.
• Gains or losses from currency exchange: These are gains or losses that arise from changes in foreign currency exchange rates.