Sales less sales discounts less sales returns and allowances equals:
A) Net purchases.
B) Cost of goods sold.
C) Net sales.
D) Gross profit.
E) Net income.

Name: Sales less sales discounts less sales returns and allowances equals: A) Net purchases. B) Cost of goods sold. C) Net sales. D) Gross profit. E) Net income.
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Question

Quizplus · Accepted Answer

Sales less sales discounts less sales returns and allowances equals net sales, which represents the amount of revenue earned from sales after accounting for any discounts or returns.

Sales Less Sales Discounts Less Sales Returns and Allowances Equals