Which transactions affect the net income, Accounting Basics

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Which transactions affect the net income

Consider the following questions:

1. The income statement is a change statement. Explain what is meant by this.

2. What transactions are included in income from continuing operations? Briefly explain why it is important to segregate income from continuing operations from other transactions affecting net income.

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Accounting Basics: Which transactions affect the net income

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Accounting Basics: Which transactions affect the net income

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