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A company accountant is considering how to include the following items in the financial statements:

      (1) Cost of restructuring the activities of the enterprise.
      (2) The correction of a fundamental error in the financial statements for the previous period.
      (3) Loss from expropriation of assets by a government.

Which of these items would constitute an extraordinary item according to IAS 8 Net Profit or Loss for the Period,
Fundamental Errors and Changes in Accounting Policies?

A    1 only
B    2 only
C    3 only
D    All three items

C

ding

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c

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c

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[em01]

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