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The following items are presented on financial statements A. Material gains or losses, unusual and infrequent B. Changes in estimates C. Changes in principles D.

The following items are presented on financial statements

A. Material gains or losses, unusual and infrequent

B. Changes in estimates

C. Changes in principles

D. Correction of errors

E. Discontinued operations

Instructions: For each of the items listed above, describe (A) the criteria used to identify the item and (B) its placement on the financial statements. Assume that each item is material.

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