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:

Mixers

Devices used to blend or mix various ingredients together, common in food processing and preparation.

Average Total Cost

The total cost of production divided by the number of units produced, representing the cost per unit.

Mixers

Devices used to mix various ingredients together or electronic sound equipment used for blending different sounds and channels.

Average Fixed Cost

The fixed costs, such as rent or salaries, divided by the number of units produced, calculated over a period of time.