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The allinclusive and current operating performance concepts of income represent opposing views regarding the inclusion of items to be reported in earnings on the income

The allinclusive and current operating performance concepts of income represent opposing views regarding the inclusion of items to be reported in earnings on the income statement. Team Debate:

Team 1: Defend the allinclusive concept of income.

Team 2: Defend the current operating performance concept of income.

Please provide arguments supporting team 1 and Team 2.

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