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Which of the following items regarding the corporate income statement is most accurate?
A. Unusual or infrequent items appear in the income statement of a corporation as a component of net income from continuing operations.
B. Examples of extraordinary items include expropriations of property and equipment by foreign governments, losses from earthquakes and tornados, and gains from the sale of investments in subsidiaries.
C. If a corporation disposes of a business segment that is separable from the company's core business activities, the results of the discontinued segment are reported as a separate line item below income from continuing operations on a pre-tax basis.
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