Final answer:
Net income refers to operating income minus income taxes, and it is used in accounting to represent the total revenue minus all expenses, including taxes.
Step-by-step explanation:
The term net income is used to mean operating income minus income taxes. The correct answer is d. net income. In accounting, net income is calculated by taking total revenue and subtracting the total expenses, including income taxes. This is different from accounting profit, which is the total revenue minus explicit costs, and economic profit, which takes into account both explicit and implicit costs.