The Excess of Actual Operating Income Over a Minimum Acceptable

question 52

Multiple Choice

The excess of actual operating income over a minimum acceptable operating income is called:

• A) net profit.
• B) gross profit.
• C) non-operating income.
• D) residual income.

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Definitions:

Informal

Lacking official procedures or rules; casual or unofficial in nature.

Contact Cultures

Societies or communities that prefer close physical proximity and touch as part of social interactions.

Personal Space

The physical area surrounding an individual that they regard as psychologically theirs, comfort levels with proximity vary across cultures and individuals.

Noncontact Cultures

Societies or communities that maintain social distance and prefer minimal physical contact in social interactions.