Which of the Following "Formulas" Is Incorrect

question 39

Multiple Choice

Which of the following "formulas" is incorrect?

• A) Gross profit - operating expenses = income before income tax.
• B) Net sales - cost of goods sold = gross profit.
• C) Net sales - gross profit = cost of goods sold.
• D) Operating expenses - cost of goods sold = gross profit.

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Definitions:

Reality Principle

The concept in psychoanalytic theory that the mind functions to mediate between the demands of the id and the realities of the external world.

Individualism

An outlook within society that upholds the importance of individual autonomy against the backdrop of communal or state intervention.

Collectivism

A social and cultural orientation that emphasizes the priority of group needs over individual desires or goals.

Extraversion

A personality trait characterized by outgoingness, high energy, and enjoyment in social interactions, often contrasted with introversion.