Which of the Following Line Items Below Is Present in Both

question 202

Multiple Choice

Which of the following line items below is present in both the multistep income statement and an income statement in which expenses are simply subtracted from revenues to arrive at net income?

• A)Income before income tax expense
• B)Income from operations
• C)Net income
• D)Gross profit

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Definitions:

South Atlantic

The portion of the Atlantic Ocean lying between the eastern coasts of South America and the western coasts of Africa.

Mid-Ocean Ridges

Underwater mountain ranges formed by plate tectonics, where new oceanic crust is created through volcanic activity.

Ocean Basins

The underwater depressions of the Earth's surface that contain the bulk of the planet's ocean water.

Abyssal Plains

Vast, flat areas of the deep ocean floor, situated at depths between 3,000 and 6,000 meters below sea level.