A company suffered a substantial loss when its production facility was destroyed in an earthquakeagainst which it was not insured. Geological scientists were surprised by the earthquake becausethere was no evidence that one had ever occurred in that area in the past. Which of the followingstatements is most accurate? The company should report the loss on its income statement: —

单选题 编号：2693373

1. A company suffered a substantial loss when its production facility was destroyed in an earthquakeagainst which it was not insured. Geological scientists were surprised by the earthquake becausethere was no evidence that one had ever occurred in that area in the past. Which of the followingstatements is most accurate? The company should report the loss on its income statement:

A.As an unusual item if it reports under US GAAP.
B.Net of taxes if it reports under US GAAP.
C.As an extraordinary item net of taxes if it reports under IFRS.

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