A Line on the Income Statement That Indicates What a Department

question 3

Multiple Choice

A line on the income statement that indicates what a department has left after covering cost of goods and sold and direct expenses is:

• A)the gross margin.
• B)the net income.
• C)the contribution margin.
• D)None of these answers are correct.

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Definitions:

Slavery

Slavery is a system in which individuals are owned by others, deprived of personal freedom, and forced to perform labor or services.

Plantation Farming

An agricultural production system characterized by large-scale monoculture farming, often historically reliant on slave or cheap labor.

Missouri

A U.S. state located in the Midwestern region, known for its diverse geography, ranging from the Ozark Mountains to the Mississippi River.

Statehood

The condition of being recognized as an independent nation or the admission of a territory into a federation or union as a state.