Factor by Grouping

question 18

Multiple Choice

Factor by grouping:

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Definitions:

Net Income

A company's financial gain following the deduction of all expenses and taxes from its earnings.

Cost Of Goods Sold

Costs directly involved in the manufacture of products a business sells, specifically labor and materials.

Operating Expenses

Costs associated with the day-to-day functions of a business, excluding costs of goods sold.

Gross Sales

The total sales revenue of a company without any deductions for returns, allowances, or discounts.