Which of the following would be considered a long-term asset?

Which of the following should be classified as an extraordinary item?

a. Effects of major casualties not infrequent in the area. b. Write-off of a significant amount of receivables. c. Loss from the expropriation of facilities by a foreign government. d. Losses due to a bitter, lengthy labor strike.

All of the following are true about land except:

a. land exists forever b. real estate is immobile c. land cannot be insured d. land may be depreciated