Gross profit is the difference between:
A)Net sales and the cost of goods sold.
B)The cost of merchandise purchased and the cost of merchandise sold.
C)Net sales and net income.
D)Net sales and all expenses.

Name: Gross profit is the difference between: A)Net sales and the cost of goods sold. B)The cost of merchandise purchased and the cost of merchandise sold. C)Net sales and net income. D)Net sales and all expenses.
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Question

Quizplus · Accepted Answer

Gross profit is calculated by subtracting the cost of goods sold from net sales.

Gross Profit Is the Difference Between