If a material event is either unusual in nature or an infrequent occurrence—such as a one-time charge resulting from a major restructuring—it may be classified on the income statement as a special or unusual item in continuing operations or treated as an extraordinary item if it has been a number of years since the company’s last major restructuring. a. True
b. False

Your father's employer was just acquired, and he was given a severance payment of $375,000, which he invested at a 7.5% annual rate. he now plans to retire, and he wants to withdraw $35,000 at the end of each year, starting at the end of this year. how many years will it take to exhaust his funds, i.e., run the account down to zero? a. 22.50 b. 23.63 c. 24.81 d. 26.05 e. 27.35