Asked by Peter Shibia on May 13, 2024
Verified
When a company has no reportable non-operating activities,its income from operations is simply labeled net income.
Non-Operating Activities
Activities and financial events that fall outside the core operations of a business, such as investment income or losses, and gains or losses from the sale of assets.
Income from Operations
Revenue generated from a company's core business operations, excluding deductions of expenses and taxes.
Net Income
The sum a company retains as earnings after all taxes and expenses have been deducted from its income.
- Segregate the diversity of spending and grasp the consequential effect on the income and expenditure statement.
Verified Answer
Learning Objectives
- Segregate the diversity of spending and grasp the consequential effect on the income and expenditure statement.
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