The profit earned or loss incurred by a firm,determined by subtracting expenses from revenues,is referred to as the ________.
A) working capital
B) current asset
C) net income
D) net sales
E) gross income

Question

Quizplus · Accepted Answer

A)Net income is the profit earned or loss incurred by a firm, determined by subtracting expenses from revenues. It is casually referred to as the bottom line.
B)Net income is the profit earned or loss incurred by a firm, determined by subtracting expenses from revenues. It is casually referred to as the bottom line.
C)Net income is the profit earned or loss incurred by a firm, determined by subtracting expenses from revenues. It is casually referred to as the bottom line.
D)Net income is the profit earned or loss incurred by a firm, determined by subtracting expenses from revenues. It is casually referred to as the bottom line.
E)Net income is the profit earned or loss incurred by a firm, determined by subtracting expenses from revenues. It is casually referred to as the bottom line.

The Profit Earned or Loss Incurred by a Firm,determined by Subtracting