Asked by Reginald Louis on Apr 28, 2024
Verified
Sales revenue less cost of goods sold is called
A) gross profit.
B) net profit.
C) net income.
D) marginal income.
Gross Profit
The difference between total revenue and the cost of goods sold, representing the basic profit from sales before deducting any operating expenses.
Sales Revenue
The total amount of income generated by the sale of goods or services before deducting any expenses.
Cost of Goods Sold
Represents the direct costs attributable to the production of the goods sold by a company, including both materials and labor costs.
- Acquire knowledge about the significance and determination of gross profit when analyzing a company's profitability.
Verified Answer
JS
Jamal SaundersApr 28, 2024
Final Answer :
A
Explanation :
Sales revenue less cost of goods sold is known as gross profit.
Learning Objectives
- Acquire knowledge about the significance and determination of gross profit when analyzing a company's profitability.