Explain the Difference Between Operating Revenues/expenses and Nonoperating Revenues/expenses

question 38

Essay

Explain the difference between operating revenues/expenses and nonoperating revenues/expenses. Why does the GASB require that operating revenues/expenses be reported separately on proprietary statements of revenues, expenses, and changes in fund net position?

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Definitions:

Spinal Cord

A long, thin, tubular structure made up of nervous tissue, which extends from the brainstem down the back, and transmits neural signals between the brain and the rest of the body.

Attentiveness

The state or quality of being attentively listening or watching; paying close attention to details.

Sleepiness

A state characterized by a decreased ability to remain awake, an increased propensity to fall asleep, and often a reduction in mental alertness and physical performance.

Dreaming

The experience of envisioned images, thoughts, or emotions during sleep, particularly in the REM (Rapid Eye Movement) phase.