Net income is
A)The excess of revenues over expenses.
B)The same as equity.
C)Assets minus liabilities.
D)A revenue.
E)The excess of expenses over revenues.

Name: Net income is A)The excess of revenues over expenses. B)The same as equity. C)Assets minus liabilities. D)A revenue. E)The excess of expenses over revenues.
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Question

Quizplus · Accepted Answer

Net income is the excess of revenues over expenses, also known as profit. It is the amount left over after all expenses have been subtracted from revenues.

Net Income Is