Which of the Following Statements About Gross Profit Is Correct

Multiple Choice

Which of the following statements about gross profit is correct?

A) Gross profit = Net sales − Cost of goods sold.
B) Gross profit is recorded by a credit to the Gross Profit account.
C) A company sells $10,000 of goods.If the gross profit percentage is 32%,net income would be $3,200.
D) If net sales are $100 and cost of goods sold is $50 then the gross profit percentage is 100%.