Net income can best be described as:
A)Net cash received by a company during the year.
B)Revenues minus expenses.
C)The amount of profits retained in a company for the year.

Question

Quizplus · Accepted Answer

Net income is the total revenue a company earns during a specific period, minus any expenses or costs associated with generating that revenue. It is the amount of money a company has left over after all of its expenses have been paid.

Net Income Can Best Be Described As