The Following Statements Regarding Gross Profit Are Except

question 166

Multiple Choice

The following statements regarding gross profit are except:

• A) Gross profit is also called gross margin.
• B) Gross profit less other operating expenses equals income from operations.
• C) Gross profit is not calculated on the income statement.
• D) Gross profit must cover all operating expenses to yield a return for the owner of the business.
• E) Gross profit equals net sales less cost of goods sold.

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Definitions:

Basal Metabolic Rate

The number of calories required to keep your body functioning at rest, representing the minimum amount of energy needed for vital organs to operate.

Serving Size

The standardized amount of food typically consumed in one sitting, used for nutritional labeling and dietary guidelines.

Set Points

The theory that each individual has a genetically determined range of weight and temperature that their body will try to maintain to stay at optimal health.

Natural Behavior Tendencies

Innate or biologically driven behaviors that occur naturally in an organism without the need for learning.