Which of the Following Statements Is Correct

question 22

Multiple Choice

Which of the following statements is correct?

• A)The term single-step income statement is sometimes used to describe a classified income statement.
• B)Salaries of office employees would be grouped with the selling expenses in the Operating Expenses section of the income statement.
• C)If a business is to earn a net income, the gross profit on sales must be greater than operating expenses.
• D)Sales less Operating Expenses equals Gross Profit.

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Definitions:

ROM

Read-Only Memory, a type of non-volatile storage that is typically used to store firmware or application software in electronic devices.

Multiple Cores

Refers to a CPU that has more than one processing unit (core) within a single chip, enhancing the computer's ability to perform multiple tasks simultaneously.

CPU Chip

The central processing unit of a computer, a crucial component responsible for interpreting and executing most of the commands from the computer's other hardware and software.

Dolby Digital 7.1

An audio technology providing sound from eight channels (7 speakers plus 1 subwoofer) for a surround sound experience in movies, games, and TV.