The Basic Format of an Income Statement Is

question 59

Multiple Choice

The basic format of an income statement is

• A) Sales - Expenses = Profits.
• B) Income - Expenses = EBIT.
• C) Sales - Liabilities = Profits.
• D) Assets - Liabilities = Profits.

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Definitions:

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A logical operator in programming that represents OR; used to combine two conditions, returning true if at least one of them holds true.

Value Of X

Refers to the specific value held or assigned to the variable X in a program.

Value Of Y

A representation of the numerical or computed value associated with the variable Y in an equation or function.