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    College Accounting Study Set 1
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    Exam 12: Completion of the Accounting Cycle for a Merchandise Company
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    If Net Sales Is $10,000,Cost of Goods Sold Is $5,000,Gross
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If Net Sales Is $10,000,Cost of Goods Sold Is $5,000,Gross

Question 40

Question 40

Multiple Choice

If Net Sales is $10,000,Cost of Goods Sold is $5,000,Gross Profit is $5,000 and Operating Expenses are $1,000,what is the Net Income from Operations?


A) $2,000
B) $4,000
C) $1,000
D) $3,000

Correct Answer:

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