Match the term with its definition.
-Operating profits less interest expense
A)accrued expenses
B)cash flow activities
C)cost of goods sold
D)gross profits
E)long-term debt
F)long-term note
G)net profits
H)operating profits
I)profit margins
J)profits before taxes (taxable income)
K)short-term notes
L)statement of cash flows

Question

Quizplus · Accepted Answer

Profits before taxes, or taxable income, is calculated by subtracting interest expenses from operating profits.

Match the Term with Its Definition