The Change in Equity of an Entity During a Period

question 17

Multiple Choice

The change in equity of an entity during a period from transactions and other events from non-owner sources is known as

• A)net income.
• B)net operating income.
• C)comprehensive income.
• D)net change in assets.

Recognize the significance of teamwork, collaboration, and effective communication in healthcare settings.

Comprehend the importance of Quality and Safety Education for Nurses (QSEN) competencies in improving care quality.

Acknowledge the impact of external forces such as healthcare reform, demographics, and emergencies on nursing practice.

Understand the importance of continuing education and training in enhancing nursing practice and patient care.

---

Definitions:

Net Income

The total earnings of a company after deducting all expenses, taxes, and costs from its total revenues.

Income and Losses

The total revenues gained minus the expenses and losses incurred by a business over a period, determining net profit or loss.

Accumulated Depreciation

The total amount of depreciation expense that has been charged against a fixed asset since it was acquired, reflecting its loss of value over time.

Equipment

Equipment refers to the tangible assets or tools used in the operation or production process of businesses, which can range from office supplies to heavy machinery.