Question : Claim received against damage of fixed assets say because of an earthquake is an example of ____________.

Option 1: Extraordinary items of Operating activities

Option 2: Extraordinary items of Investing Activities

Option 3: Extraordinary items of financing Activities

Option 4: None of the above


Team Careers360 25th Jan, 2024
Answer (1)
Team Careers360 26th Jan, 2024

Correct Answer: Extraordinary items of Investing Activities


Solution : Answer = Extraordinary items of Investing Activities

Claim received against damage of fixed assets because of an earthquake is an example of extraordinary items because Extraordinary items are incomes and expenses that arise from events or transactions that are clearly distinct from the ordinary business activities of the enterprise.
Hence, the correct option is 2.

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