Net income presented on an income statement


The net income presented on an income statement prepared in conforming with generally accepted accounting principles generally is:

a. Equal to economic profit

b. Greater than economic profits because interest is not considered in calculating economic profits

c. Greater than economic profits because opportunity costs are not considered in calculating net income

d. Less than economic profits because economic profits don't include fixed costs

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Accounting Basics: Net income presented on an income statement
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