Answer to Question #5658 in Finance for LaMarcus Streeter

Question

If an item meets one (but not both) of the criteria for an extraordinary item, it......

may be treated as sales revenue (if it is a gain) and as an operating expense (if it is a loss).

only needs to be disclosed in the footnotes of the financial statements.

is reported at its gross amount as an "other revenue or gain" or "other expense or loss."

is reported as an "other revenue or gain" or "other expense and loss," net of tax.