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    Survey of Accounting Study Set 7
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    Exam 4: Accounting for Merchandising Businesses
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    The Excess of Net Revenue from Sales Over the Cost
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The Excess of Net Revenue from Sales Over the Cost

Question 111

Question 111

Multiple Choice

The excess of net revenue from sales over the cost of goods sold is called _____.


A) accounts receivable
B) operating income
C) accounts payable
D) gross profit

Correct Answer:

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