EXTRAORDINARY ITEMS Definition

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EXTRAORDINARY ITEMS are material items that are unusual in nature and occur infrequently. Both characteristics must exist for an item to be classified as an extraordinary item on the income statement.

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EXPORT DECLARATION is the official paperwork required of exporters so trade transactions and goods can be tracked.

PROSPECTIVE FINANCIAL STATEMENTS are either financial forecasts or financial projections. Prospective financial statements may cover a period that has partially expired. Statements for periods that have completely expired are not prospective financial statements.

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