Sales Less Sales Discounts Less Sales Returns and Allowances Equals

question 42

Multiple Choice

Sales less sales discounts less sales returns and allowances equals:

• A) Net purchases.
• B) Cost of goods sold.
• C) Net sales.
• D) Gross profit.
• E) Net income.

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Definitions:

Limited Liability Company

A Limited Liability Company (LLC) is a business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation.