If Revenues are 100,000 and Expenses are 85,000, Net Income is

Unlock all questions

This demo includes only 20 questions. Upgrade to access hundreds of questions, flashcards, exam simulations, and disable ads.

Full question bankExam simulationsFlashcards
From $25.99Unlock all

Prepare for the Fundamentals of Accountancy, Business, and Management (FABM) 1 Exam. Study efficiently with multiple choice questions and detailed explanations. Enhance your knowledge and succeed in your exam with confidence.

Multiple Choice

If Revenues are 100,000 and Expenses are 85,000, Net Income is

Explanation:
Net income is what you get when you subtract expenses from revenues. Here, revenues are 100,000 and expenses are 85,000, so net income = 100,000 − 85,000 = 15,000. This positive result means the business made a profit of 15,000. If expenses were higher than revenues, the result would be a net loss.

Net income is what you get when you subtract expenses from revenues. Here, revenues are 100,000 and expenses are 85,000, so net income = 100,000 − 85,000 = 15,000. This positive result means the business made a profit of 15,000. If expenses were higher than revenues, the result would be a net loss.

More Multiple Choice Questions
Subscribe

Get the latest from Passetra

You can unsubscribe at any time. Read our privacy policy