Many companies adopted a policy of _________ only after the surprising public response to issues companies did not previously consider to be part of their business responsibilities.

Two categories of expenses in merchandising companies are

a. cost of goods sold and financing expenses. b. operating expenses and financing expenses. c. cost of goods sold and operating expenses. d. sales and cost of goods sold.

Reductions from gross income for such items as individual retirement account contributions and alimony payments will result in

A) adjusted gross income. B) taxable income. C) earned income. D) passive income. E) total exclusions.