Question 1196718: Gross profit is found by subtracting the cost of goods from the _____, or net sales.
A. selling price
B. markup on cost
C. overhead
D. net profit
Would A. be the correct answer?
Answer by ikleyn(52834)   (Show Source):
You can put this solution on YOUR website! .
Gross profit is the profit a company makes after deducting the costs associated
with making and selling its products, or the costs associated with providing its
services. Gross profit will appear on a company's income statement and can be
calculated by subtracting the cost of goods sold (COGS) from revenue (sales).
https://www.investopedia.com/terms/g/grossprofit.asp#:~:text=Gross%20profit%20is%20the%20profit,)%20from%20revenue%20(sales).
Learn terminology related to your discipline from your textbook - not asking the tutors.
Also, it is not a good idea to learn terminology of Finance from a Math web-site.
Similar as to go to a dentist to treat lung cancer.
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