Which of the Following Terms Refers to the Difference Calculated

question 56

Multiple Choice

Which of the following terms refers to the difference calculated by subtracting income taxes from the operating income of an organization?

• A) Gross revenue
• B) Net income
• C) Gross profit
• D) Cash flow
• E) Leverage

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Definitions:

Right to Inspect

The authorized capacity to examine or review something for accuracy, quality, or condition.

Goods

Items that are manufactured or produced for sale.

Shipped

The act of sending or transporting goods from one place to another, typically referring to the movement of merchandise after a sale.

Implied Warranty

An unwritten and unspoken guarantee that a product or service meets the minimum quality and functionality standards, assumed in a sale.