Jerry Wants to Calculate Gross Profit for His Business

question 165

Short Answer

Jerry wants to calculate gross profit for his business. Which formula should he use?
Operating expenses minus income taxes
Sales revenue minus income taxes
Sales revenue minus operating expenses
Sales revenue minus cost of goods sold
Operating income minus income taxes

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Definitions:

Arachnids

Eight-legged arthropods, such as spiders, scorpions, ticks, and mites.

True Coelom

A body cavity completely lined by mesoderm, found in most multicellular animals, facilitating the development of more complex structures.

Open Circulatory System

A type of circulatory system in which the blood bathes the tissues directly; characteristic of arthropods and many mollusks. Compare with closed circulatory system.

Arthropods

Invertebrate animals having an exoskeleton, a segmented body, and paired jointed appendages, including insects, arachnids, and crustaceans.