Meg Malloy Is Running an Income Statement on Her QuickBooks

question 351

Multiple Choice

Meg Malloy is running an income statement on her QuickBooks computer accounting program. Which of the following accounts will be used to calculate gross profit?

• A) Revenues, net sales, depreciation, and operating expenses
• B) Revenues, general expenses
• C) Revenues, cost of goods sold, tax expenses, net income before taxes
• D) Revenues, cost of goods sold

---

Definitions:

Aggressive

A forceful approach or strategy intended to dominate or win over, often characterized by assertiveness and boldness in action.

Marketing Objectives

The specific goals set by a company as part of its marketing plan, which may include increasing brand awareness, sales, market share, or customer loyalty.

Strategy Canvas

A strategic management tool used for comparing current market positions of companies and to visualize strategies in uncontested market spaces.

Four Actions Framework

A strategic model used in business to create new value for customers and differentiate from competitors by systematically considering which factors to eliminate, reduce, raise, and create.