The Difference Between Gross Profit and Operating Expenses Is _____

question 45

Multiple Choice

The difference between gross profit and operating expenses is _____.

• A)net income
• B)gross income
• C)profit
• D)cost of goods sold

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Definitions:

Governmental Authority

Denotes the legal and formal right of a government to enact laws, enforce rules, and regulate behaviors within its jurisdiction.

Traditional Authority

refers to a form of leadership in which the power of rulers is rooted in customs, traditions, and societal norms, often passed down through generations within families or clans.

Bureaucracy

An organizational structure characterized by standardized procedure, hierarchy of authority, and a clear division of labor, often within governmental agencies.

Capitalism

A financial system in which commerce, business, and resources are primarily or wholly owned and managed by private individuals for monetary gain.