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Gosaye Gomole
on Nov 12, 2024

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Other income and expenses are items that are not related to the primary operating activity.

Other Income

Income derived from activities that are not part of a company’s primary business operations.

Operating Activity

Operating activity involves the primary functions of a business that relate to its provision of goods and services to the market.

Expenses

Assets used up or services consumed in the process of generating revenues.

  • Recognize the primary differences in financial statements between merchandising and service sectors.
  • Differentiate among different types of financial reports and their main objectives.
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Leila MarieNov 17, 2024
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