Gains and losses are reported as non-operating items on the income statement.

Name: Gains and losses are reported as non-operating items on the income statement.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Gains and losses are typically not part of the core operations of a business, and are therefore reported as non-operating items on the income statement. Examples of non-operating gains/losses include gains/losses from investments, asset sales, foreign exchange transactions, and other similar items.

Gains and Losses Are Reported as Non-Operating Items on the Income