Net income, or profit, is the bottom-line measure of what's left from the firm's net sales after operating expenses, financing costs, and taxes have been deducted.

Question

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This is a true statement. Net income, also known as profit, is calculated by subtracting all operating expenses, financing costs, and taxes from a company's net sales revenue. It represents the final amount left over for the company after all its expenses are accounted for.

Net Income, or Profit, Is the Bottom-Line Measure of What's