Revenue, Minus Cost of Goods Sold =

question 44

Multiple Choice

Revenue, minus cost of goods sold =

• A) retained earnings.
• B) fundamental accounting equation.
• C) gross profit.
• D) net income.

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Definitions:

Negatively Correlated

A connection between two variables where, as one variable rises, the other falls, and the opposite is also true.

Wealth

An abundance of valuable financial assets or physical possessions which can be converted into a form that can be used for transactions.

Experimental Group

In research, the group of participants that is exposed to the variable or intervention being tested.

Positively Correlated

A relationship between two variables where they move in the same direction, meaning as one variable increases, the other also increases, or as one decreases, the other also decreases.