The income statement begins with revenue and subtracts various operating expenses until arriving at Earnings Before Interest and Taxes. Next, interest expense is subtracted to find the taxable income for the period. Then the appropriate taxes are calculated and subtracted. We finally arrive at the ________, the so-called bottom line of the income statement.
A) after-tax income
B) before-tax income
C) net income
D) EBIT
Answer: C
Explanation: C) The income statement begins with revenue and subtracts various operating expenses until arriving at Earnings Before Interest and Taxes (EBIT). Next, interest expense is subtracted to find the taxable income for the period. Then the appropriate taxes are calculated and subtracted. We finally arrive at the net income, the so-called bottom line of the income statement.
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A. benchmark jobs contained in the point manual. B. the wage mix. C. the number of steps within the pay grade. D. the total points that have been assigned to that job.
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Answer the following statement true (T) or false (F)
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Answer the following statement true (T) or false (F)