Net Income Will Result If Gross Profit Exceeds

question 25

Multiple Choice

Net income will result if gross profit exceeds

• A)cost of goods sold.
• B)operating expenses.
• C)purchases.
• D)cost of goods sold plus operating expenses.

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Definitions:

Termination

In a contract, the point at which an offer can no longer be accepted as part of a binding agreement or an offeree no longer has the power to form a legally binding contract by accepting the offer; can occur through revocation by the offeror, rejection by the offeree, death or incapacity of the offeror, destruction or subsequent illegality of the subject matter of the offer, or lapse of time or failure of another condition stated in the offer.

Inference of Discrimination

Inference of discrimination refers to a conclusion drawn from indirect evidence suggesting discriminatory practices based on race, gender, age, or other protected characteristics.

Protected Class

Groups of people legally protected from discrimination by law, based on characteristics such as race, gender, age, or disability.

Termination

The act of ending an employee's contract of employment with an organization.