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Adventis FMC Level 1 MC Practice Questions And Answers Graded A+
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what is the purpose of the income statement? What does it indicate? - ans to show stakeholders if the firm made or lost money during the period being reported it indicates how revenues are transformed into net income define: Revenue - ans the amount charged for the delivery of goods and services define: COGS - ans direct costs of producing revenue define: Operating Expense - ans all other expenses required to run the business what does Operating Income indicate?
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