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Which is the best example of an account included to arrive at income from operations calculation? (Hint: Deducting operating expenses fron gross margin.) O Income tax expense Interest expense Interest revenue for a bicycle shop O Utilities expense A simple income statement (single step) combines all revenues into on category, followed by expenses, to produce net income. True False When will title of goods transfer if the shipping terms are FOB destination? O while in transit and crossing state lines O inventory leaves the seller (seller's loading dock) o when they are loaded into a train, ship, or truck inventory arrives at the buyer (buyer's loading dock) A one-year insurance policy was purchased on March 1, 2020 for $17,000 in cash. Which is the most appropriate entry to record the purchase of this policy? O Debit Prepaid insurance and credit insurance expense for $17,000 O Debit Cash and credit Insurance expense for $17,000 O Debit prepaid insurance and credit Cash for $17.000 O Debit Insurance expense and credit Cash for $17,000