The "Bottom Line" of an Income Statement Shows the Firm's

question 122

Multiple Choice

The "bottom line" of an income statement shows the firm's:

• A)owners' equity.
• B)net income or net loss.
• C)retained earnings.
• D)gross margin.

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Definitions:

Tautology

A statement that is true by necessity or by virtue of its logical form.

Conjunct

In logic, a component of a compound statement formed by joining two statements with the word 'and'.

Conjunction

In linguistics, a term employed to link clauses or sentences together, or to arrange words within a single clause.

Disjuncts

Components in a logical expression that are combined with an OR operator, where the expression is true if at least one of the disjuncts is true.