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#cfa-level-1 #reading-25-understanding-income-statement
Question
Net income also includes [...] and [...] that may not be in the ordinary activities of the business.
Answer
gains

losses

Tags
#cfa-level-1 #reading-25-understanding-income-statement
Question
Net income also includes [...] and [...] that may not be in the ordinary activities of the business.
Answer
?

Tags
#cfa-level-1 #reading-25-understanding-income-statement
Question
Net income also includes [...] and [...] that may not be in the ordinary activities of the business.
Answer
gains

losses
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Net income also includes gains and losses , which are increases and decreases in economic benefits, respectively, which may or may not arise in the ordinary activities of the business.

Original toplevel document

2. COMPONENTS AND FORMAT OF THE INCOME STATEMENT
anone and €160 million is attributable to minority interests. For Kraft, $3,021 million of the net earnings amount is attributable to the shareholders of Kraft Foods and $7 million is attributable to the non-controlling interest. <span>Net income also includes gains and losses , which are increases and decreases in economic benefits, respectively, which may or may not arise in the ordinary activities of the business. For example, when a manufacturing company sells its products, these transactions are reported as revenue, and the costs incurred to generate these revenues are expenses and are presente

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