The "L" in the Mnemonic LAST Stands for ____

question 12

Multiple Choice

The "L" in the mnemonic LAST stands for ____.

• A) Lives
• B) Limbs
• C) Litigation
• D) Locate

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Definitions:

Net Income

The profit of a company after all expenses and taxes have been deducted from revenue.

Operating Expenses

Operating expenses are the costs associated with running a business's day-to-day operations, excluding the cost of goods sold.

Gross Profit

The difference between the revenue earned from selling goods or services and the cost of goods sold, not including overhead or other indirect expenses.

Cost of Goods Sold

The direct monetary requirements for producing goods that a company sells, involving both materials and workforce.