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:

Power Acquisition

The act of gaining authority or control within an organization or group, often for influencing decisions.

Extraordinary Activities

Tasks or actions that are beyond the ordinary, often requiring remarkable effort or skill.

Difficulty of Replacement

refers to the challenges associated with finding a suitable substitute for an employee, resource, or component, often due to specialized skills or scarcity.

Influence Tactic

Strategies or methods used to persuade or direct others' behavior and decision-making in a desired direction.