Question: Match each term used i n a multiple - step income statement with its description. 3 Gross profit Nonoperating expenses Operating expenses 1 Income before
Match each term used a multiplestep income statement with its description. Gross profit Nonoperating expenses Operating expenses Income before income taxes Net income Sales revenue Cost goods sold Operating income Match each the options above the items below. Expenses arising from activities that are not part a company's primary operations. Cost inventory sold during the period. Profit most directly related the sale inventory. Profit from normal operations that a key performance measure for predicting future profit. All revenues minus all expenses. Expenses arising from activities that are part a company's normal operations. Amount recorded from the sale products and services customers. Amount profit after including nonoperating revenues and expenses.
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