Net Income or Net Loss for a Period Is Calculated

question 63

Multiple Choice

Net income or net loss for a period is calculated by the following formula:

• A) total revenues - total withdrawals.
• B) total revenues - total expenses - total withdrawals.
• C) total revenues - total expenses.
• D) total revenues - total expenses + capital.

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Definitions:

Be Enthusiastic

To show intense and eager enjoyment, interest, or approval about a subject or activity.

Herb Kelleher

was the co-founder and former CEO of Southwest Airlines, known for his innovative management style and focus on company culture.

Trust

A firm belief in the honesty and reliability of another; confidence developed by dealing openly with others, considering all points of view, keeping promises, and caring about people.

Respect

The admiration and regard for someone or something, often due to their abilities, qualities, or achievements.