Operating income is defined as which of the following?

Operating income measures the profit generated from a company's core business operations, excluding the effects of financing and tax considerations. This figure is important because it provides insight into how well a company is performing in its primary business activities, without the influence of external factors like interest expense and tax obligations.

By focusing on profit from normal operations, operating income gives a clearer picture of operational efficiency and the effectiveness of current business strategies compared to measures that may incorporate one-time items or financing activities.

Other options do not capture this specific focus on core business activities: option A suggests profit is calculated without considering any expenses, which misrepresents the concept. Option C refers to net income, which includes all revenue and expenses, while option D focuses on income from investments, which falls outside of operating revenue. Therefore, the correct understanding aligns with the emphasis on profits from routine operational activities while excluding interest and taxes.