Listed below are five terms followed by a list of phrases that describe or characterize the terms.Match each phrase with the best term placing the letter designating the term in the space provided.
-_____ Equals gross profit less operating expenses.

Question

Quizplus · Accepted Answer

Operating income is defined as gross profit less operating expenses.

Answer: B
 Net income is the total amount of profit after subtracting operating expenses, interest, taxes, and other expenses from total revenue.

Answer: C
 Inventory turnover ratio measures the number of times a company sells and replaces its inventory during a period, which indicates how efficiently the company manages its inventory.

Answer: A
 Gross profit is the revenue earned from selling goods or services minus the cost of goods sold.

Answer: E
 Income before income taxes is the total amount of income earned by a company before taxes are deducted.

Listed Below Are Five Terms Followed by a List of Phrases