Writing Has Informative Value When It

question 23

Multiple Choice

Writing has informative value when it

• A)conveys knowledge that will be new to the reader.
• B)presents information that has never before been made public.
• C)not only presents the facts, but also explains what the facts mean.
• D)is presented in point form.

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Definitions:

Single-Step Income Statement

An income statement format that deducts total expenses from total revenues with one calculation, to find the net income.

Operating Income

Profit realized from a business's core operations, excluding deductions of interest and taxes.

Income Tax Rate

The percentage of income that is paid to the government as tax.

Gain on Sale

The profit realized from the sale of an asset when it is sold for more than its carrying amount on the company's books.