What are the two basic economic concepts of income? What implications do they have for analysis?
Answer to relevant QuestionsDistinguish between operating and nonoperating income. Cite examples of items that are typically included in each category.How should an analyst treat special items?Distinguish between net income, comprehensive income, and continuing income. Cite examples of items that create differences between these three income measures.Explain how accounting practice defines a product financing arrangement.What are the economic costs to issuing employee stock options at the prevailing market price?
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