Which of the Following Equations Expresses the Definition of "Income

question 4

Multiple Choice

Which of the following equations expresses the definition of "income"?

• A) Income = Revenues - Expenses
• B) Income = (Revenues + Gains) - (Expenses + Losses)
• C) Income = Revenues + Gains
• D) Income = Gains - Losses

---

Definitions:

Automobile

A wheeled motor vehicle used for transportation, typically powered by an internal combustion engine or electric motor.

Substitute Good

A product or service that consumers see as a viable alternative to another product, where an increase in the price of one leads to an increase in demand for the other.

Laptop Computers

Portable personal computers with a clamshell form factor, suitable for mobile use and equipped with a keyboard and a screen.

Electronic Textbooks

Digital versions of textbooks that can be accessed on electronic devices like computers, tablets, or e-readers.