Net Income Can Be Computed As

question 29

Multiple Choice

Net income can be computed as:

• A) dividends plus the addition to retained earnings.
• B) sales minus costs.
• C) retained earnings plus depreciation.
• D) sales minus cost of goods sold.
• E) sales minus taxes.

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Definitions:

Adult Americans

Adult Americans refer to individuals within the United States who are legally recognized as adults, typically 18 years of age or older.

Tax Liability

The total amount of taxes owed by an individual, corporation, or other entity to a taxing authority such as the government.

Government Size

The extent of involvement and intervention of the government in a country, typically measured by public expenditure as a percentage of GDP.

Economic Growth

An increase in the production of goods and services in an economy over a period of time, generally measured by GDP.