High School

Net income is calculated using the following formula:

(Expenses/Revenues/Assets) minus (Expenses/Revenues/Assets) = Net Income.

Choose the correct word for each blank:

A. (Expenses/Revenues/Assets) minus (Liabilities)

B. (Liabilities/Revenues/Assets) minus (Expenses)

C. (Revenues/Expenses/Assets) minus (Liabilities)

D. (Assets/Revenues/Expenses) minus (Liabilities)

Answer :

Final answer:

Net income is calculated by subtracting expenses and liabilities from revenues in the formula (Revenues - Expenses) minus (Liabilities).

Explanation:

The correct formula to calculate net income is (Revenues - Expenses) minus (Liabilities). This formula shows that net income is determined by subtracting expenses and liabilities from revenues. It is important to note that assets are not directly involved in the calculation of net income.

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