Under the Current-Operating Concept, Increases in Equity from Peripheral or Incidental

question 56

Multiple Choice

Under the current-operating concept, increases in equity from peripheral or incidental transactions (transactions other than sales of products, merchandise, or services) are referred to as:

• A)gains.
• B)revenue.
• C)comprehensive income.
• D)accruals.

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Definitions:

Rapport

A positive relationship marked by mutual understanding and trust between individuals or groups.

Verbalizing Concerns

The act of expressing worries, fears, or anxieties using spoken words in order to address and manage them effectively.

Furthering Responses

Techniques used in communication to encourage deeper discussion or elaboration on a topic.

Reflecting Content

Reflecting content is a communication technique used in counseling and therapy involving repeating or paraphrasing what a client has said to ensure understanding and validation of their feelings and thoughts.