Mallory Is Running an Income Statement on Her QuickBooks Computer

question 151

Multiple Choice

Mallory is running an income statement on her QuickBooks computer accounting program. Which of the following accounts will be used to calculate gross profit?

• A) revenues, net sales, depreciation, and operating expenses
• B) revenues, general expenses
• C) revenues, cost of goods sold, tax expenses, net income before taxes
• D) revenues, cost of goods sold

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Definitions:

Express Feelings

The act of conveying emotions through various forms of expression, such as art, music, or speech.

Sculpture

The art of creating three-dimensional forms by carving, modeling, or assembling materials like stone, metal, or wood.

Dance

A form of artistic expression and social interaction involving a sequence of movements that follow a certain sequence and rhythm, often accompanied by music.

Third International

Also known as the Communist International or Comintern, it was an international communist organization aimed at fighting by all available means, including armed force, for the overthrow of the international bourgeoisie.