Which statements are true (for a firm without non-operating income or expenses)? EBIT . a. is the same as operating income
b. is the same as net sales
c. is the same as net income
d. does not include interest payments

a. is the same as operating income

d. does not include interest payments

Explanation:

The earnings before interest and taxes(EBIT) is used to measure the profit of a firm which has to do with all the incomes and the expenses that the firm makes except the income tax and the interest expenses.

It should be noted that EBIT is not the same as the net sales as it involves operating costs. Also, EBIT is higher than the net income.

Therefore, options A and D are the right answer.

answer///supply is elastic, and demand is inelastic;