Asked by Peter Shibia on May 13, 2024

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When a company has no reportable non-operating activities,its income from operations is simply labeled net income.

Non-Operating Activities

Activities and financial events that fall outside the core operations of a business, such as investment income or losses, and gains or losses from the sale of assets.

Income from Operations

Revenue generated from a company's core business operations, excluding deductions of expenses and taxes.

Net Income

The sum a company retains as earnings after all taxes and expenses have been deducted from its income.

  • Segregate the diversity of spending and grasp the consequential effect on the income and expenditure statement.
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JH
Jeremy HwangMay 16, 2024
Final Answer :
True
Explanation :
If a company has no reportable non-operating activities, its income from operations is labeled as net income, and there will be no need to differentiate between net income and total income.