Question: Please Address these 3 question with your own words please. Thanks a lot. 1- What is the basis for distinguishing between operating and nonoperating items?

Please Address these 3 question with your own words please. Thanks a lot.

1- What is the basis for distinguishing between operating and nonoperating items?

2- What effect does intraperiod tax allocation have on reported net income?

3- What major types of items are reported in the retained earnings statement?

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