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The document discusses how gains and losses are reported in financial statements. It provides multiple-choice options for their classification on the income statement and cash flow statement. The correct classification is noted as operating items on the income statement.
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Return to questionItem 5 Required information Skip to questi.pdf
- 1. Return to questionItem 5 Required information Skip to question Current Time 0:00 / Duration 7:35 1x Gains and losses are reported Multiple Choice as operating items on the income statement. Incorrect as nonoperating items on the income statement. in the financing activities section of the statement of cash flows. in the operating activities section of the statement of cash flows.