1____________________ is the income earned after other revenues are added and other expenses are subtracted by the business.

a.None b.Income from operations c.Gross profit d.Net Income

2.Which of the following concept is considered as an equity of a business? a.The company owns anything that has monetary value b.The overall debts that a company has yet to pay c.The revenue of a company has provided but has not yet collected d.The value left over after liabilities and owned by investors and owners