Which of the Following Best Describes Income from Operations

question 31

Multiple Choice

Which of the following best describes income from operations?

• A) It includes the results of discontinued operations.
• B) It includes extraordinary items.
• C)It is sales minus cost of goods sold and income tax expense.
• D)It is net sales minus cost of goods sold and operating expenses.

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Definitions:

Price Levels

A measure reflecting the average cost of a basket of goods and services in an economy, influencing the cost of living and economic health.

Bretton Woods

The Bretton Woods system was a monetary management system that established rules for commercial and financial relations among the United States, Canada, Western Europe, Australia, and Japan after WWII.

International System

A global framework consisting of political, economic, social, and legal rules that govern the relations between nations.

Exchange Rates

The rate at which one currency can be converted into another.