Net Income Can Be Used to Assess a Company's Progress

question 79

True/False

Net income can be used to assess a company's progress in meeting the goal of profitability.

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Definitions:

Seventh Amendment

A provision of the U.S. Constitution that guarantees the right to a jury trial in certain civil cases, according to federal law.

Jury Trial

A legal proceeding where a group of people (the jury) makes a decision or finds facts in a case.

Enabling Legislation

A statute enacted by a legislature that authorizes the creation of an administrative agency and specifies the name, purpose, composition, and powers of the agency being created.

Administrative Agency

A federal or state government agency established to perform a specific function. Administrative agencies are authorized by legislative acts to make and enforce rules relating to the purpose for which they were established.