Describe the Difference Between Operating Items and Other Items Reported

question 80

Essay

Describe the difference between operating items and other items reported on the income statement while providing examples of each.

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Definitions:

Contributory Negligence

A legal defense where if the plaintiff is found to have contributed to their own harm, they may be barred from recovering damages from the defendant.

Self-Defense

The right to prevent harm to oneself or others under threat, by use of reasonable force.

Battery

The act of causing offensive or harmful physical contact to another person intentionally or as a result of recklessness.

Assault

A civil wrong that occurs when one person intentionally and voluntarily places another in fear or apprehension of an immediate, offensive physical harm. Assault does not require actual contact.