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

Question

Quizplus · Accepted Answer

Nonoperating items reflect the effects of financial management decisions, such as interest income or expense, and are not directly related to the core operations of the business.

Nonoperating Items on the Income Statement