Gross Profit Less Operating Expenses Equals

question 100

Multiple Choice

Gross profit less operating expenses equals:

• A) Cost of Goods Sold.
• B) general administrative expenses.
• C) net purchases.
• D) net income.

Analyze reasons for and methods of risk management in companies.

Understand the influence of widespread cultural standards on gender roles.

Recognize the importance of family influence on educational aspirations compared to peer groups.

Know the concept of self-socialization and its impact on selecting socialization influences.

---

Definitions:

Production Possibilities

The different quantities of goods and services that an economy can produce given its available resources and technology, as represented by a production possibility curve.

Better Technology

Improvements or advancements in technology that increase efficiency or productivity.

Concave Production Possibilities Curve

A graphical representation indicating increasing opportunity costs as more of one good is produced, resulting in a bowed-out shape.

Economic Resources

These are the assets, materials, and inputs used to produce goods and services, including labor, capital, and natural resources.