________ is the term used to describe the difference between revenue and expenses
A) Revenue
B) Interest
C) Sales
D) Owner's equity
E) Profit
Answer: E
Explanation: Profit is the amount of money left over after all the costs involved in doing business, have been deducted from revenue.
Business
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Under the equity method, the investment account is decreased by all of the following except the investor's proportionate share of:
(a) dividends paid by the investee (b) declines in the fair value of the investment (c) the losses of the investee (d) All of these answer choices are correct
Business
Debits to Work in Process Inventory are accompanied by a credit to all but which one of the following accounts?
a. Raw Materials Inventory b. Factory Labor c. Manufacturing Overhead d. Cost of Goods Sold
Business