Which of the Following Is Subtracted from Net Sales Revenue

question 91

Multiple Choice

Which of the following is subtracted from Net sales revenue to arrive at Gross profit?

• A)Cost of sales
• B)Sales discounts and Sales returns and allowances
• C)Operating expenses
• D)Cost of goods available for sale

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Definitions:

Obligation

A legal or financial duty to make a payment or fulfill a contract.

Futures Contracts

Financial contracts obligating the buyer to purchase an asset, or the seller to sell an asset, at a predetermined future date and price.

Bushels Of Wheat

A measure of volume used primarily in agriculture, equivalent to approximately 35.24 liters, often used to quantify wheat production or trade.