Net income equals: 3 Multiple Choice 2 01:02:56 Revenues minus cost of goods sold. Revenues minus expenses. Assets minus liabilities. Cash receipts minus cash payments RA 00 Of the following, the most important objective for financial reporting is to provide information useful for: 2 00:44:01 Multiple Choice Making decisions. Determining taxable income. Increasing future profits. Providing accountability Mc Graw Hill