Which of these are not alternative names for the same thing?
A)Gross profit; profit.
B)Cost of sales; cost of goods sold.
C)Statement of comprehensive income; profit and loss statement: statement of financial performance.
D)None of the above, i.e., all are alternative names for the same thing.

Question

Quizplus · Accepted Answer

Gross profit and profit are not synonymous. Gross profit refers to the revenue minus the cost of goods sold, not accounting for other operating expenses, interest, or taxes. Profit, however, can refer to several different figures on an income statement, such as operating profit, net profit, or gross profit, depending on the context.

Which of These Are Not Alternative Names for the Same