Which of the Following Are Subtracted from Sales in Order

question 15

Multiple Choice

Which of the following are subtracted from sales in order to arrive at operating income? I. Cost of goods sold
II. Selling, general, and administrative expenses
III. Depreciation and amortization
IV. Interest expense

• A)I, II, III, and IV
• B)I, II, and III only
• C)I only
• D)I and II only

---

Definitions:

Mortgage

A loan secured by the collateral of specified real estate property, where the borrower is obliged to make a predetermined set of payments to the lender.