Gross Profit Is Calculated as the Difference Between Net Sales

question 150

Multiple Choice

Gross profit is calculated as the difference between net sales revenue and ________.

• A)purchases
• B)cost of goods sold
• C)cost of merchandise inventory
• D)selling and administrative expenses

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Definitions:

Activating

The process of making a device or system operational, such as by applying electrical power or enabling its functions through a control mechanism.

Abolition Laws

Legislation aimed at ending the practice of slavery, with significant examples including the British Slavery Abolition Act of 1833 and the Emancipation Proclamation in the US.

Maryland

A region situated in the Mid-Atlantic area of the U.S., renowned for its important historic locations and being the origin of the national anthem.

Phillis Wheatley

The first African American female poet to be published, her works reflecting her life and times as a slave in the late 18th century.