After All Expenses Have Been Subtracted from Revenues on an Income

question 21

Multiple Choice

After all expenses have been subtracted from revenues on an income statement, the final figure or bottom line is called the _____ when it is a positive number.

• A)gross profit
• B)net revenue
• C)net profit
• D)owners' equity
• E)net sale

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Definitions:

Conventional

Following traditional forms or methods; typical and based on accepted standards.

Postconventional

A stage of moral development in which individuals make decisions based on universal principles and the internalization of these principles as personal ethics.

Character Formation

The process of developing and shaping one's ethical and moral qualities and values.

Self-Concept

An individual's perception of themselves, shaped by personal experiences, body image, and reflections from society.