The income statement shows earnings before taxes, which is equal to
A) operating income minus operating expenses.
B) earnings before taxes minus taxes.
C) operating income minus interest.
D) net sales minus cost of goods sold.
E) gross revenues minus returns and allowances.
C
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Which of the following accurately describes a product category manager?
A) A product category manager works for a company that relies solely on individual branding. B) A product category manager is responsible for moving a company's product mix from generic to branded. C) A product category manager coordinates the development of brand equity for a specific brand name. D) A product category manager is also called a sales manager. E) A product category manager coordinates the mix of product lines within a general product category and is responsible for the addition of new product lines.
Shares of stock currently owned by a firm's shareholders are called ________
A) authorized shares B) issued shares C) outstanding shares D) treasury shares