The Following Statements Regarding Gross Profit Are Except

Multiple Choice

The following statements regarding gross profit are except:

A) Gross profit is also called gross margin.
B) Gross profit less other operating expenses equals income from operations.
C) Gross profit is not calculated on the income statement.
D) Gross profit must cover all operating expenses to yield a return for the owner of the business.
E) Gross profit equals net sales less cost of goods sold.