Examlex
Select the correct statement.
Gross Profit
The difference between sales revenue and the cost of goods sold, before deducting overheads, taxes, and interest payments.
Operating Expenses
Costs related to the day-to-day functions of a business outside of direct production costs, such as rent, salaries, and utilities.
Direct Materials
Raw materials that are directly traceable to the manufacturing of a product and considered variable costs.
Cost of Goods Sold
The direct costs attributable to the production of the goods sold by a company, including the cost of the materials and labor used in creating the product.
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