Asked by Reginald Louis on Jul 30, 2024
Verified
Gross profit is equal to
A) sales plus cost of goods sold
B) sales plus selling expenses
C) sales less selling expenses
D) sales less cost of goods sold
Gross Profit
The financial gain obtained after subtracting the cost of goods sold from the revenue generated from sales.
- Calculate and understand the significance of gross profit in business operations.
Verified Answer
ZK
Zybrea KnightAug 04, 2024
Final Answer :
D
Explanation :
Gross profit is the amount of revenue that remains after deducting the cost of goods sold. Therefore, it is equal to sales minus cost of goods sold.
Learning Objectives
- Calculate and understand the significance of gross profit in business operations.