Net income is the profit left over after subtracting expenses and losses from revenues and gains.

Name: Net income is the profit left over after subtracting expenses and losses from revenues and gains.
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Question

Quizplus · Accepted Answer

Net income is calculated by subtracting all expenses (including taxes) and losses from total revenue and gains. This is the final profit that a company has earned after accounting for all costs and expenditures.

Net Income Is the Profit Left Over After Subtracting Expenses