In Accounting Terms, Profits Are ______

question 144

Multiple Choice

In accounting terms, profits are ______.

• A) the difference between revenues and expenses
• B) the difference between commissions earned and receipts
• C) the difference between sales and expenses
• D) the sum of sales and expenses

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Definitions:

True Conclusion

A statement or outcome that logically follows from the premises of an argument and is in accordance with facts or reality.

Conditional Claim

A statement that asserts something is true if, and only if, another condition is met.

Conditional Claim

A statement that asserts the truth of something based on a condition being met or a hypothesis being true.

Valid Argument

An argument whose conclusion logically follows from its premises, ensuring that if the premises are true, the conclusion must also be true.