1. The amounts disclosed to arrive at income from continuing operations are:

A. Normal and recurring revenues and expenses

B. Normal and recurring revenues and expenses plus extraordinary gains and losses

C. Normal and recurring revenues and expenses plus prior period losses

D. All revenue and expense items from the period

2.

The presentation of extraordinary items on the Income Statement:

A. Should be included as normal and recurring revenues/expenses

B. Should be separated out as a nonrecurring item

C. Depends on the interpretation of "unusual and infrequent"

D. Was eliminated by ASU 2015-01 as part of the simplification initiative