What Term Is Used for the Positive Gain from a Business

question 71

Multiple Choice

What term is used for the positive gain from a business operation after all of the expenses have been subtracted?

• A)earnings
• B)total sales
• C)gross margin
• D)revenue
• E)profit

Master the use of Excel's Auto Fill options to efficiently fill data series and apply formatting.

Recognize and apply the correct method to keep cell references constant using absolute referencing.

Understand the concept of sensitivity or what-if analysis in Excel.

Identify and correct common error indicators in Excel, such as ###### or #NAME?.

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Definitions:

Financial Statement Column

A column in a financial statement that categorizes financial data, such as assets, liabilities, revenues, or expenses, to help analyze financial health.

Closing Entries

Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts and prepare the accounts for the next period.

Owner's Equity Statement

A financial statement that shows the changes in the equity of a company's owner(s) over a period of time.

Net Income

The amount of money that remains after all operating expenses, taxes, and interest have been deducted from total revenue.