The first step involved in deducting costs from revenue is to deduct costs of goods sold.

Name: The first step involved in deducting costs from revenue is to deduct costs of goods sold.
Brand: Quizplus
Rating: 4.8 (39 reviews)

Question

Quizplus · Accepted Answer

The first step in deducting costs from revenue is to subtract the cost of goods sold, which includes any direct costs associated with producing or providing the goods or services sold. After this, any other expenses or costs can be deducted to determine the company's net income or profit.

The First Step Involved in Deducting Costs from Revenue Is