Net Income

question 41

Multiple Choice

Net income:

• A)Occurs when revenues exceed expenses.
• B)Is the same as revenue.
• C)Equals resources owned or controlled by a company.
• D)Occurs when expenses exceed assets.
• E)Represents assets taken from a company for an owner's personal use.

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Definitions:

Decision-making

The cognitive process of selecting a course of action from among multiple alternatives, often considered a core function of management.

Intuition

Refers to the ability to understand something immediately, without the need for conscious reasoning.

Unrestrained rationality

Decision-making or thought processes that are conducted without limits or boundaries, often overlooking emotional or contextual factors.

Decision-Making under certainty

The process of making decisions when the outcomes or consequences of each choice are known or predictable.