Net Sales Are

question 35

Multiple Choice

Net sales are:

• A) gross sales less returns and allowances from customers.
• B) gross sales less cost of goods sold.
• C) profits less cost of goods sold.
• D) cost of goods sold less returns and allowances.
• E) gross margin plus fixed expenses.

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Definitions:

Islamic Moors

Refers to the Muslim inhabitants of the Maghreb, the Iberian Peninsula, Sicily, and Malta during the Middle Ages.

Jews

An ethnoreligious group originating from the Israelites or Hebrews of the ancient Middle East, characterized by a common heritage, religion (Judaism), and culture.

Holy League

An alliance of Christian states formed at various times in history, often to oppose Muslim forces.

Venice

A historic city in northeastern Italy, known for its unique canal system, rich history as a powerful maritime republic, and its architectural and cultural legacy.