Which of the Following Would Be a Suitable Format for the Statement

question 21

Multiple Choice

Which of the following would be a suitable format for the statement of financial performance for a medium size furniture store operation as a partnership?

• A)income - expenses = profit
• B)sales - cost of sales = gross profit - expenses = profit
• C)income + expenses = profit
• D)sales - cost of sales = gross profit

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Definitions:

Ought

expresses duty, correctness, or advisability, typically concerning moral obligation or desirable actions.

Sociological

Pertains to the study of social behavior, organization, and the structure of society.

Theories

Are systematic explanations of phenomena, often based on observation, experimentation, and reasoning, used to predict outcomes and guide research in various fields of study.

Egoism

Egoism is the ethical stance that treats self-interest as the foundation of morality.