Which of the Following Statements Is Correct

question 18

Multiple Choice

Which of the following statements is correct?

• A) The term single-step income statement is sometimes used to describe a classified income statement.
• B) If a business is to earn a net income,the gross profit on sales must be greater than operating expenses.
• C) Salaries of office employees would be grouped with the selling expenses in the Operating Expenses section of the income statement.
• D) Sales less Operating Expenses equals Gross Profit.

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Definitions:

Modification

The act of making changes or alterations to something, often to improve it or to adapt it to different needs or conditions.

Lewin's Model

A change management model proposing that successful change involves unfreezing, changing, and refreezing to embed new practices within an organization.

Change Process

The sequence of stages involved in moving from a current state to a desired future state.

Crises

Significant and often sudden adverse events that can disrupt an organization or society, requiring urgent and effective responses.