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:

Ethical Theory

A branch of philosophy that involves systematizing, defending, and recommending concepts of right and wrong behavior, focusing on moral principles and values.

Altruism

The selfless concern for the well-being of others without expecting any reward.

Ethical Theory

A system of thought that explores the nature of morality and the moral choices individuals make.

Moral Development

Refers to the process through which individuals develop proper attitudes and behaviors toward other people in society, based on social and cultural norms, personal beliefs, and experiences.