OPERATING INCOME Definition

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OPERATING INCOME is revenue less cost of goods sold and related operating expenses that are applied to the day-to-day operating activities of the company. It excludes financial related items (i.e., interest income, dividend income, and interest expense), extraordinary items, and taxes.

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OVERSTATED is when something is represented as greater than is true or reasonable.

RECEIPTS this term, unless otherwise qualified, in accounting means cash received.

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