16. Operating Profit is the income after subtracting all the expenses from the gross margin...
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Accounting
16. Operating Profit is the income after subtracting all the expenses from the gross margin (true/false)
17. Net profit is after subtracting all expenses from the revenue (true/false)
18. An Income statement is a report showing how well the business used its resources over a period of time. (true/false) 19. A debit increases an asset or an expense account (true/false)
20. Depreciation is the allocation of the cost of an asset with a life longer than a year (true/false)
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