It is the end of December, and Juan, the owner of a small sporting goods business, is paying the last few expenses for the year. Once all the expenses are paid, the money that is left over will be Juan's profit and is also referred to as:

Question

A. net income
B. variable income
C. retention income
D. division income

Answer 1

The money that is left over after all expenses have been paid is referred to as:

A. net income

Net income is the amount of money remaining after all expenses, taxes, and costs have been deducted from total revenue.