Income from Operations Is Gross Profit Less

question 114

Multiple Choice

Income from operations is gross profit less
1) operating expenses and other expenses and losses.
2) operating expenses plus other revenues and gains.
3) operating expenses.

• A) 1
• B) 2
• C) 3
• D) both 1 and 2

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Definitions:

Disinflation

A decrease in the rate of inflation, indicating a slowdown in the rate at which prices for goods and services increase over time.

Phillips Curve

An economic concept that illustrates an inverse relationship between the rate of inflation and the unemployment rate in the short run.

Disinflates

Disinflation refers to a reduction in the rate of inflation, leading to a slower increase in the price levels of goods and services.

Unemployment Rate

The percentage of the working-age population that is unemployed and in the process of looking for a job.