match each definition with its related term by entering the appropriate letter in th 555488

Terms

Definitions

(1) Net income

A. Revenues + Gains – Expenses – Losses including
effects of discontinued operations and extraordinary
items (if any).

(2) Income tax expense on operations

B. Income Tax on Revenues – Operating Expenses.

(3) Income before extraordinary items

C. Sales Revenue – Cost of Goods Sold

(4) Cost of goods sold

D. Sales of services for cash or on credit.

(5) Operating expenses

E. Amount of resources used to purchase or produce the goods that were sold during the reporting period.

(6) Gross margin on sales

F. Total expenses directly related to operations.

(7) EPS

G. Income before all income tax and before discontinued operations and extraordinary items (if any).

(8) Interest expense

H. Cost of money (borrowing) over time.

(9) Service revenue

I. Item that is both unusual and infrequent.

(10) Pretax income from operations

J. Net Income ÷ Average Shares Outstanding.

K. Income before unusual and infrequent items and the related income tax.

L. None of the above.