If Net Sales Is $7,000, Cost of Goods Sold Is

question 11

Multiple Choice

If Net Sales is $7,000, Cost of Goods Sold is $3,000, Gross Profit is $4,000 and Operating Expenses are $1,000, what is the Net Income from Operations?

• A) $2,000
• B) $4,000
• C) $1,000
• D) $3,000

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Definitions:

Car Purchase

The process of acquiring a vehicle for personal or business use, which may involve financing or leasing options.

Straight-Line Depreciation

A method of allocating the cost of a tangible asset over its useful life in equal annual amounts.

Depreciation Table

A schedule that shows the depreciation expense, accumulated depreciation, and book value of each asset over its useful life.

Delivery Van

A Delivery Van is a type of vehicle used by businesses for the transportation of goods, products, or materials directly to customers or between locations.