Nonoperating Items on a Multiple-Step Income Statement Do NOT Include

question 23

Multiple Choice

Nonoperating items on a multiple-step income statement do NOT include ________.

• A) interest income
• B) interest expense
• C) gain from disposal of a fixed asset
• D) selling expenses

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Definitions:

Otis-Lennon School Ability

A standardized test designed to assess the school abilities of students, measuring verbal, quantitative, and spatial reasoning abilities.

Terman-Stanford-Binet Intelligence Scale

An individually administered intelligence test that was revised from the original Binet-Simon Scale by Lewis Madison Terman and others at Stanford University, used to assess human intelligence.

Intelligence Quotient

A numerical measure of a person's cognitive abilities relative to others, typically determined through standardized tests.

Mental Age

A measure of an individual's cognitive ability compared to the average cognitive ability of an individual at a specific chronological age.