Your Boss Asks You What Was the Bottom Line on Last

question 12

Multiple Choice

Your boss asks you what was the bottom line on last year's results. You refer your boss to the ________ line on the income statement.

• A)revenue
• B)gross profit
• C)operating expenses
• D)net income

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Definitions:

Share Capital

The total amount of capital raised by a company through the issuance of shares to shareholders.

Statement of Financial Position

A financial report that shows the assets, liabilities, and equity of a company at a specific point in time, providing a snapshot of its financial health—also known as a balance sheet.

Preferred Shares

A class of ownership in a corporation that has a higher claim on its assets and earnings than common shares, often with predetermined dividend payments.

Common Shares

A type of equity ownership in a corporation, with voting rights and the potential to receive dividends.