When Analyzing a Company's Income Statement,a Fact to Remember Is

Multiple Choice

When analyzing a company's income statement,a fact to remember is that:

A) cost of sales is another term for gross profit.
B) operating expenses are the costs of everyday operations such as selling expenses.
C) companies are not allowed to offset items such as interest income and interest expense against each other.
D) net sales is equal to sales revenue less cost of goods sold.