Under U. S. GAAP, the effect of a material transaction that is infrequent in occurrence but not unusual in nature should be presented separately as a component of income from continuing operations when the transaction results in a gain or loss:. A. Yes / No
B. Yes / Yes
C. No / No
D. No / Yes

B. Yes / Yes

Explanation:

From the question, the following two important group of words can be identified:

a. "infrequent in occurrence"

b. "unusual in nature"

Under U.S. Generally Accepted Accounting Principles (GAAP), those two group of words describe a transaction that is part of income from continuing operations of a business when it results in a gain or loss. The reason is that the transaction occurs frequently and it is normal in nature.

However, if the two words to describe a transaction were "unusual" and "infrequent", such a transaction will be reported as extraordinary items. The reason is that the transaction does not occur frequently and it is abnormal in nature.

Based the explanation above, the correct option is B. Yes / Yes. That is, under U.S. GAAP, the effect of a material transaction that is infrequent in occurrence but not unusual in nature should be presented separately as a component of income from continuing operations when the transaction results in a gain or loss.

a progressive tax is a tax that imposes a lower tax rate on low-income earners compared to those with a higher income, making it based on the taxpayer's ability to pay. that means it takes a bigger percentage from high income earners than it does from low income people.

c.

explanation:

regressive tax taxes the poor and less of the wealthy. this the rich get richer and the poor get more poor. this would create a large wealth gap.