1. Which of the following income measures most closley reflect the Econoimc Income of the a company

a. Net income b. Comprehensive income c. Recurring income d. Operating Income

2. Which of the following most likely represents a permanent or recurring component of income?

a. gain from selling PP&E b. Rent income c. change in accounting principles d. Gain from an investment

3. Which of the following is considered an expense rather than a loss?

a. Inventory writeoff b. Restructuring charges c. Selling PPE at a price lower than book value d. Depreciation