The income statement begins with revenue and subtracts various operating expenses until arriving at Earnings Before Interest and Taxes. Next, interest expense is subtracted to find the taxable income for the period. Then the appropriate taxes are calculated and subtracted. We finally arrive at the , the so called bottom line of the income statement. Group of answer choices

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D. Earnings before interest and taxes(EBIT)

Explanation:

Earnings before interest and taxes abbreviated EBIT in the income statement is arrived at by deducting operating expenses from revenue/sales to get operating income. The operating income is earnings before interest and taxes which comes before gross income(subtract other expenses). Operating expenses are the main expenses concerned with operations of the business such as the Sales

Explanation:

Note, a market system (capitalist economy) allows the forces of demand and supply to take place more freely than a command economy (monopolistic economy).

Thus, the market system will try to increase the production of the scarce commodities on its own, while the command economy will try to ensure anyone in the economy gets the limited commodity supply made available, especially to those who need it more.