Which Items Bypass the Profit Figure Under the Operating-Profit Approach

question 1

Multiple Choice

Which items bypass the profit figure under the operating-profit approach?

• A) Revenues and expenses resulting from changes in accounting policies
• B) Revenue and expenses relating to prior periods
• C) Revenues and expenses relating to events outside the ordinary operations of the entity
• D) All of the above

---

Definitions:

Cognitive Errors

Mistakes in reasoning, evaluating, remembering, or other cognitive processes, often leading to biases or inaccurate judgments.

Cognitive Errors

are flaws or biases in thinking processes that can lead to misunderstanding, incorrect judgments, or faulty decisions.

Classroom Environment

The setting and conditions in which teaching and learning occur, including the physical space, emotional climate, and social interactions within the classroom.

Belief Perseverance

Belief perseverance is the psychological phenomenon wherein individuals maintain their beliefs despite contrary evidence.