The Nonoperating Items That Appear on the Income Statement Include

question 54

Multiple Choice

The nonoperating items that appear on the income statement include

• A) discontinued operations.
• B) gains or losses on the sale or disposal of these segments.
• C) both discontinued operations and gains or losses on the sale or disposal of these segments.
• D) neither discontinued operations nor gains or losses on the sale or disposal of these segments.

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Definitions:

Japanese Ports

Refers to the seaports of Japan, which became significant in the mid-19th century as Japan ended its period of national isolation and opened to international trade and influence.

Matthew Perry

A U.S. Navy Commodore who played a key role in opening Japan to the West with the Kanagawa Treaty in 1854, ending Japan's two centuries of isolation.

David Wilmot

A U.S. politician known for the Wilmot Proviso, an unsuccessful proposal aimed at banning slavery in territory acquired from Mexico.

Prohibit Slavery

To officially ban or forbid the practice of slavery, making it illegal to own, buy, or sell humans as property.