192. _____ Indicates that title to inventory transfers from the seller to the buyer once it reaches the buyer. 06_188 Reference: 06_192 Listed below are five terms followed by a list of...

192. _____ Indicates that title to inventory transfers from the seller to the buyer once it reaches the buyer.

06_188

Reference: 06_192

Listed below are five terms followed by a list of phrases that describe or characterize the terms. Match each phrase with the best term placing the letter designating the term in the space provided.

Terms:

a. Gross profit

b. Net income

c. Inventory turnover ratio

d. Operating income

e. Income before income taxes

193. _____ Equals operating income plus nonoperating revenues less nonoperating expenses.

06_192

194. _____ Equals income before income taxes less income taxes.

06_192