After Gross Profit Is Calculated, Operating Expenses Are Deducted to Determine

question 15

Multiple Choice

After gross profit is calculated, operating expenses are deducted to determine

• A)gross margin.
• B)net income (loss)before income tax.
• C)cost of goods sold.
• D)profit margin.

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Definitions:

Recessions

Periods of temporary economic decline during which trade and industrial activities are reduced, generally identified by a fall in GDP in successive quarters.

Macroeconomics

The branch of economics that is concerned with the overall ups and downs in the economy.

Computer Engineers

Professionals who design, develop, and test computer systems and components such as processors, circuit boards, memory devices, and networks.

Services Society

A society where the economy is significantly driven by the provision of services rather than the production of goods.