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Gross profit is: The amount left over after cost of goods sold is subtracted from net sales. A.Net sales less operating expenses. B.Sales less sales discount. C.less sales discounts. D.Net sales less selling expenses

Gross profit is: The amount left over after cost of goods sold is subtracted from net sales. A.Net sales less operating expenses. B.Sales less sales discount. C.less sales discounts. D.Net sales less selling expenses

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 20MC: A multi-step income statement ________. A. separates cost of goods sold from operating expenses B....
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Gross profit is:

The amount left over after cost of goods sold is subtracted from net sales.

A.Net sales less operating expenses.

B.Sales less sales discount.

C.less sales discounts.

D.Net sales less selling expenses

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