Which one of the following would appear on the statement of income of both a merchandising company and a service company?
A)Gross profit
B)Net income
C)Sales revenues
D)Cost of goods sold

Question

Quizplus · Accepted Answer

Net income appears on the statement of income for both merchandising and service companies, as it represents the final profit after all expenses, including cost of goods sold and operating expenses, have been subtracted from revenues.

Which One of the Following Would Appear on the Statement