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Which one of the following would he classified as an extraordinary item? A) Expropriation of...

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Accounting

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Which one of the following would he classified as an extraordinary item? A) Expropriation of property by a foreign government B) Losses attributed to a labor strike C) Write-down of inventories D) Gains or losses from sales of equipment An extraordinary item is one that A) occurs infrequently and is uncontrollable in nature. B) occurs infrequently and is unusual in nature. C) is material and is unusual in nature. D) is material and is uncontrollable in nature. Planning is a function that involves A) hiring the right people for a particular job. B) coordinating the accounting information system. C) setting goals and objectives for an entity. D) analyzing financial statements. Which of the following is not a management function? A) Constraining B) Planning C) Controlling D) Directing Manufacturing costs include A) direct materials and direct labor only. B) direct materials and manufacturing overhead only. C) direct labor and manufacturing overhead only. D) direct materials, direct labor, and manufacturing overhead. A manufacturing process requires small amounts of glue. The glue used production process is classified as a(n) A) period cost. B) indirect material. C) direct material. D) miscellaneous expense

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