Multiple Choice
Gross profit on sales is calculated as
A) net sales minus operating expenses.
B) sales minus sales returns and allowances.
C) net sales minus cost of goods sold .
D) net sales plus cost of goods sold.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q69: Interest on notes payable would be listed
Q70: The data below concerns adjustments to be
Q71: Which of the following accounts is not
Q72: The difference between net sales and the
Q73: For the current fiscal year, Purchases were
Q75: The adjusted trial balance data given below
Q76: Match the accounting terms with the description
Q77: The entry to reverse the adjusting entry
Q78: Use the following account balances from the
Q79: Which of the following is not a