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    Exam 3: The Basics of Record Keeping and Financial Statement Preparation: Income Statement
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    Common Terminology, but Not Definitions in U
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Common Terminology, but Not Definitions in U

Question 100

Question 100

Multiple Choice

Common terminology, but not definitions in U.S.GAAP and IFRS, often refers to the difference between sales and cost of sales as gross


A) margin.
B) revenues.
C) expenses.
D) all of the above.
E) none of the above.

Correct Answer:

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