The Gross Profit Equation Is

Multiple Choice

The gross profit equation is:

A) (Sales Revenue + Sales Returns & Allowances) − Cost of Goods Sold.
B) (Sales + Sales Discounts) − Cost of Goods Sold.
C) (Sales Revenue − Sales Returns & Allowances − Sales Discounts) − Cost of Goods Sold.
D) (Sales Revenue − Sales Returns & Allowances − Sales Discounts) + Cost of Goods Sold.