Income from operations is gross profit less a. administrative expenses. b. operating expenses. c. other expenses and losses. d. selling expenses.

Income from operations is gross profit less
a. administrative expenses.
b. operating expenses.
c. other expenses and losses.
d. selling expenses.
by

1 Answer

Answer :

b. operating expenses.
by

Related questions

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Last Answer : b. revenues exceed cost of goods sold.

Which of the following is not a true statement about a multiple-step income statement? a. Operating expenses are often classified as selling and administrative expenses. b. There may be a section for nonoperating activities. c. There may be a section for operating assets. d. There is a section for cost of goods sold.

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Indicate which one of the following would appear on the income statement of both a merchandising company and a service company. a. Gross profit b. Operating expenses c. Sales revenues d. Cost of goods sold

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The gross profit rate is computed by dividing gross profit by a. cost of goods sold. b. net income. c. net sales. d. sales.

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Salaries Rs.20000,depreciation for the period is Rs.30000 other operating expenses are Rs.9000, net loss for the period is Rs.5000 fund generated from operation is------------------ a) Rs.25000 b) Rs.15000 c) Rs.35000 d) Rs.14000

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In the Clark Company, sales were $480,000, sales returns and allowances were $30,000, and cost of goods sold was $288,000. The gross profit rate was a. 64%. b. 36%. c. 40%. d. 60%.

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At the beginning of the year, Midtown Athletic had an inventory of $400,000. During the year, the company purchased goods costing $1,600,000. If Midtown Athletic reported ending inventory of $600,000 and sales of $2,000,000, the company’s cost of goods sold and gross profit rate must be a. $1,000,000 and 50%. b. $1,400,000 and 30%. c. $1,000,000 and 30%.

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If a company has sales of $420,000, net sales of $400,000, and cost of goods sold of $260,000, the gross profit rate is a. 67%. b. 65% c. 35%. d. 33%.

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The gross profit rate would be a. .454. b. .546. c. .500. d. .538.

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Gross profit would be a. $77,000. b. $70,000. c. $64,000. d. $83,000.

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The gross profit rate would be a. .535. b. .489. c. .511. d. .553.

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Gross profit would be a. $77,000. b. $64,000. c. $70,000. d. $83,000.

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The gross profit rate would be a. .700. b. .187. c. .300. d. .487.

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Gross profit would be a. $105,000. b. $28,000. c. $73,000. d. $150,000.

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Salon’s gross profit is a. $60,000. b. $30,000. c. $18,000. d. $16,000.

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A company shows the following balances: Sales $1,000,000 Sales Returns and Allowances 180,000 Sales Discounts 20,000 Cost of Goods Sold 560,000 What is the gross profit percentage? a. 56% b. 70% c. 44% d. 30%

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If a company has net sales of $500,000 and cost of goods sold of $350,000, the gross profit percentage is a. 70%. b. 30%. c. 15%. d. 100%.

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Current ratio shows----- a) The change in gross profit b) The working capital position c) The liquidity of assets d) The change in net profit

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Last Answer : d) Debt equity ratio

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Which of the following is a true statement about closing the books of a corporation? a. Expenses are closed to the Expense Summary account. b. Only revenues are closed to the Income Summary account. c. Revenues and expenses are closed to the Income Summary account. d. Revenues, expenses, and the dividends account are closed to the Income Summary account.

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If Income Summary has a credit balance after revenues and expenses have been closed into it, the closing entry for Income Summary will include a a. debit to the retained earnings account. b. debit to the owner’s dividends account. c. credit to the retained earnings account. d. credit to the owner’s dividends account.

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Which of the following is expenses ratio? (a) Administrative expenses ratio (b) Selling and Distribution expenses ratio (c) Factory expenses ratio (d) Finance Expenses ratio A. A, B and D B. A, C and D C. A, B and C D. A, B , C, D

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Total cost of a product: Rs. 10,000 Profit: 25% on Selling Price Profit is: (a) Rs. 2,500 (b) Rs. 3,000 (c) Rs. 3,333 (d) Rs. 2,000

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