Gross profit is (A) Excess of sales over cost of goods sold (B) Sales less Purchases (C)
Question:
Gross profit is
(A) Excess of sales over cost of goods sold
(B) Sales less Purchases
(C) Cost of goods sold + Opening stock
(D) Net profit less expenses of the period.
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The correct answer is A Excess of sales over cost of goods sold Gross profit is the difference betwe...View the full answer
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Related Book For 
Frank Woods Business Accounting Volume 1
ISBN: 9780273681496
10th Edition
Authors: Frank Wood, Alan Sangster
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