Net income shown on the income statement is known as the

a. final number

b. the ending result

c. the bottom line

d. the net total

If total expenses exceed total revenues, the excess is called

a. net income.

b. net loss.

c. net assets.

d. net revenues

Liabilities may be referred to as

a. obligations of the business that can be paid with cash, goods, or services.

b. debts or obligations owed to another business entity.

c. net worth or capital.

d. "debts or obligations owed to another business entity" and "obligations of the business that can be paid with cash, goods, or services" only.

Answer rating: 100% (QA)

Answer 1 the bottom line Net income NI is known as the bottom line as it ... View the full answer