Gross Margin Can Be Defined As

question 92

Multiple Choice

Gross margin can be defined as:

• A) net sales minus the cost of the goods sold.
• B) the selling price charged for a piece of merchandise or a service plus variable operating expenses.
• C) the difference between total profits and total expenses.
• D) the cost of merchandise in a retailer's inventory.
• E) the cost of goods sold at less operating expenses.

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Definitions:

Adoption Credit

A tax credit offered to adoptive parents to offset the costs of adoption, available under the U.S. tax code.

Modified AGI

Adjusted Gross Income with certain adjustments added back in, used for determining eligibility for certain tax deductions and credits.

Qualified Adoption Expenses

The necessary costs incurred during the process of legally adopting a child, which can be eligible for tax credits.

Retirement Savings

Money that has been set aside or invested with the intention of providing income or financial support during retirement.