Answer Happy

Question 9 7 pts Which of the following occur from peripheral or incidental transactions? Sales revenue Cost of goods sold o o Gain on the sale of equipment Operating expenses Question 10 7 pts Making and collecting loans and disposing of property, plant, and equipment are Liquidity activities Financing activities O Investing activities Operating activities > Question 11 6 pts Normal and recurring items presented on the income statement under the current operating performance concept are also referred to as "sustainable income." True False