Explain the terms net sales, gross profit, profit from operations, and profit. Are these terms used only

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Explain the terms "net sales," "gross profit," "profit from operations," and "profit." Are these terms used only by merchandising companies or are they used by service companies also?

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Accounting Principles Part 1

ISBN: 978-1118306789

6th Canadian edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow

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Question Posted: Mar 15, 2017 11:12 AM

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Explain the terms net sales, gross profit, profit from operations, and profit. Are these terms used only

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Net sales are calculated by deducting the contra revenue accounts S...View the full answer

Accounting Principles Part 1

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