Which of the following statements is true concerning interim financial reporting?

Question 1 options:

a)	An extraordinary item is defined as being material based on the relationship of the item to the interim period results.
b)	The results of a disposal of a business segment may be considered material for the interim period but not for the annual period.
c)	No income tax effect will be recognized in an interim period that incurs a loss.
d)	The income tax rate to be used for an interim period is based on an estimated income tax rate on annual income.