Which of these are not alternative names for the same thing?
A) income statement; profit and loss statement; statement of comprehensive income
B) gross profit; profit
C) cost of sales; cost of goods sold
D) none of the above

Question

Quizplus · Accepted Answer

While gross profit is a component of overall profit, they are not interchangeable terms. Gross profit is the revenue minus the cost of goods sold, while profit is the revenue minus total expenses.

Which of These Are Not Alternative Names for the Same