Match the terms below with the correct definitions.
-Excess of gross profit over operating expenses
A)Property and equipment
B)Reversing entries
C)Gross profit
D)Current ratio
E)Working capital
F)Net income or net loss
G)Net sales
H)Income from operations
I)Long-term liabilities
J)Liquidity

Question

Quizplus · Accepted Answer

Income from operations is defined as the excess of gross profit over operating expenses. This figure does not include income from non-operating sources, such as investments.

Match the Terms Below with the Correct Definitions