An equivalent term for net income in accounting terms is:
A)gross income.
B)gross profit.
C)goods or services sold.
D)profit after taxes.
E)operating income.

Question

Quizplus · Accepted Answer

Net income is essentially the profit a company makes after all expenses, taxes, and costs have been subtracted from total revenue, which is why it is also referred to as profit after taxes.

An Equivalent Term for Net Income in Accounting Terms Is