Consider the Following Figure to Answer the Following Questions

question 43

Multiple Choice

Consider the following figure to answer the following questions:
-During which year was average income climbing the most rapidly?

• A) 2000
• B) 2001
• C) 2004
• D) 2005
• E) 2009

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Definitions:

Income Statement

A financial statement that reports a company's earnings, expenses, and net income over a specific period.

Ending Inventory

Merchandise value ready to be sold at the close of an accounting cycle.

Retained Earnings

The portion of net earnings not distributed as dividends, but retained by the company to be reinvested in its core business or to pay debt.

Accounting Principle

Guidelines and rules that govern the accounting practices and procedures.