Net income or loss is: Multiple choice question.all revenue minus all expenses and taxesis net sales minus cost of goods soldis operating expenses minus taxesis gross profit plus operating expenses and taxes
Question
Net income or loss is: Multiple choice question.all revenue minus all expenses and taxesis net sales minus cost of goods soldis operating expenses minus taxesis gross profit plus operating expenses and taxes
Solution
The correct answer is: all revenue minus all expenses and taxes. This is because net income is calculated by subtracting total expenses (including taxes) from total revenue. This gives a measure of the profitability of a company.
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