Refer to Theory in Practice 5.2 in Section 5.5 concerning the September 11 terrorist attacks in the
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Refer to Theory in Practice 5.2 in Section 5.5 concerning the September 11 terrorist attacks in the United States..
Required
a. Do you agree that the costs resulting from September 11 are not extraordinary items? Explain why or why not.
b. Evaluate the persistence (in words-no calculations required) of these costs.
c. From the standpoint of efficient markets theory, how should these costs be disclosed? Does it matter whether or not they are classified as extraordinary?
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