Nonoperating items on the income statement_____.
A)are revenues and expenses arising from adjusting entries
B)reflect the effects of financial management decisions
C)appear only on corporate income statements
D)appear on the income statement immediately after gross profit

Question

Quizplus · Accepted Answer

Nonoperating items on the income statement reflect the effects of financial management decisions, such as interest income or expenses, gains or losses from asset sales, and other activities not related to the core operations of the business.

Nonoperating Items on the Income Statement_____