What Is a Firm's Net Income

question 9

Multiple Choice

What is a firm's net income?

• A)the difference between the sales and other income generated by the firm,and all costs,taxes,and expenses incurred by the firm in a given period
• B)the last or "bottom" line of the income statement
• C)a measure of the firm's profitability over a given period
• D)all of the above

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Definitions:

Systems Software

The collection of software that manages computer hardware resources and provides common services for computer programs.

Personal Finance

The management of financial activities such as savings, investment, and budgeting by an individual or a household.

Checkbooks

Books containing blank checks connected to a checking account, allowing the account holder to write checks for financial transactions.

Investments

The act of allocating resources, usually money, with the expectation of generating an income or profit.