Net income represents
A) revenues and gains less expenses and losses from continuing operations only.
B) revenues and gains less expenses and losses from both continuing and discontinued operations.
C) net income plus/minus other comprehensive income.
D) ongoing revenues and expenses before gains, losses, and discontinued operations.

Question

Quizplus · Accepted Answer

Net income includes all revenues and gains minus all expenses and losses from both continuing and discontinued operations, providing a comprehensive overview of a company's profitability during a specific period.

Net Income Represents