The Principal Difference Between Public and Private Standards Is

question 54

Multiple Choice

The principal difference between public and private standards is:

• A)Standards set by public firms vs.standards established by privately-owned companies
• B)Standards established by governments vs.standards set by companies
• C)Standards available for all organizations and industry players vs.standards owned by firms or individuals
• D)Free standards vs.standards users have to pay for

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Definitions:

Net Income

The amount of total revenues minus total expenses, representing the profit a company has generated over a specific period.

Bonus

Additional compensation given to employees or executives beyond their regular salary, often as a reward for achieving certain performance targets.

Pre-bonus Income

The total revenue or profit earned by an individual or entity before any bonuses are issued or calculated.

Partnership Income

The earnings distributed to partners of a partnership based on the terms of the partnership agreement.