GEN COMBO FINANCIAL AND MANAGERIAL ACCOUNTING; CONNECT ACCESS CARD
GEN COMBO FINANCIAL AND MANAGERIAL ACCOUNTING; CONNECT ACCESS CARD
7th Edition
ISBN: 9781260088687
Author: John J Wild
Publisher: McGraw-Hill Education
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Chapter 6, Problem 11DQ
To determine

Net Income:

Net income is that income of a company which is calculated by deducting all expenses such as interest, depreciation and taxes from the revenue. Net income is derived with the help of income statement of the company.

To explain: Net income of a company is totally different from its cash and cash equivalents.

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