Examples of Nonoperating Items That Would Appear on an Income

question 32

Multiple Choice

Examples of nonoperating items that would appear on an income statement are:

• A)Interest income, depreciation expense, gain on sale of land.
• B)Income taxes, interest expense, loss on sale of investments.
• C)Interest expense, interest income, loss on sale of investments.
• D)Depreciation expense, interest income, interest expense.

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Definitions:

Lower Court Cases

Legal disputes and decisions that are handled in courts with limited jurisdiction, such as municipal or district courts.

Percent

A unit of measure used to express a proportion or fraction of 100.

Federal Courts

Courts established by the federal government of a country that have jurisdiction over matters involving federal laws.

Civil Cases

Legal disputes between individuals or organizations that often involve issues of private law, such as contracts, property, and family relations.