The marketing cost of retaining customers is much higher than the cost of replacing them

In reading a corporate income statement, cost of goods sold is subtracted from __________ .

A. revenue B. operating expenses C. earnings before interest and taxes D. taxes

Under this approach, companies account for revenue based on the assets and liabilities arising from contracts with customers.

(a) asset-liability approach (b) contract liability (c) franchisor (d) input measures