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  3. Study Set
    Understanding Business
  4. Exam
    Exam 17: Understanding Accounting and Financial Information
  5. Question
    Gross Profit Represents Profit After the Deduction of Cost of Goods
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Gross Profit Represents Profit After the Deduction of Cost of Goods

Question 10

Question 10

True/False

Gross profit represents profit after the deduction of cost of goods sold, and before the deduction of all other selling expenses, general expenses, and tax expense.

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