Gross profit equals the difference between net sales and
A)profit.
B)cost of goods sold.
C)operating expenses.
D)cost of goods sold plus operating expenses.

Name: Gross profit equals the difference between net sales and A)profit. B)cost of goods sold. C)operating expenses. D)cost of goods sold plus operating expenses.
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Question

Quizplus · Accepted Answer

Gross profit is the revenue left over after deducting the cost of goods sold. Therefore, the correct answer is B - cost of goods sold.

Gross Profit Equals the Difference Between Net Sales and