Which of the Following Statements About Operating Profit (OP)is TRUE

question 16

Multiple Choice

Which of the following statements about operating profit (OP) is TRUE?

• A)OP = revenue less fixed costs
• B)OP = revenue less cost of goods sold less other variable costs
• C)OP = revenue less variable costs
• D)OP = revenue less variable and fixed costs

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Definitions:

Non-Random Sample

A sample that is not drawn from a population using random methods, potentially leading to biases.

Validity

The extent to which a concept, conclusion or measurement is well-founded and likely corresponds accurately to the real world.

Drive-Reduction Theory

A theory that explains motivation as being based on the goal of eliminating uncomfortable states.

Clark Hull

An American psychologist known for his drive reduction theory, which suggests that human motivation arises from the desire to reduce drives like hunger or thirst.