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:

Deposition

A pretrial sworn and recorded testimony of a witness that is acquired out of court with no judge present.

Interrogatories

A set of formal written questions required to be answered under oath, used as a discovery tool in civil litigation to gather information from the opposing party.

Default Judgment

Judgment for the plaintiff that occurs when the defendant fails to respond to the complaint.

Hearsay

Evidence presented in court which is not based on a witness's direct knowledge but on another's statement, not made under oath in the court of law, and thus often not admissible as evidence.