After gross profit is calculated operating expenses are deducted to determine
A) gross margin.
B) net income.
C) gross profit on sales.
D) net margin.

Question

Quizplus · Accepted Answer

After deducting operating expenses from gross profit, the result is net income. Gross margin is the percentage of sales that is gross profit, gross profit on sales is the amount of gross profit earned for a specific period of time, and net margin is the percentage of sales that is net income.

After Gross Profit Is Calculated Operating Expenses Are Deducted to Determine