What Is a Firm's Net Income

question 16

Multiple Choice

What is a firm's net income?

• A) the difference between the sales and other income generated by a 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:

Shark

A group of elasmobranch fish characterized by their cartilaginous skeletons, five to seven gill slits on the sides of the head, and pectoral fins that are not fused to the head.

Tuna

A species of saltwater fish that belongs to the tribe Thunnini, a subgrouping of the mackerel family.

Extant Mammal Groups

Currently living mammalian groups, such as marsupials, rodents, and primates, that have differentiated into distinct species through evolution.

Dinosaurs

A diverse group of reptiles of the clade Dinosauria that first appeared during the Mesozoic Era.