Refer to Application 1, "Using Value Added to Measure the True Size of Wal- Mart," to answer the following questions:
-If we try to estimate what Wal- Mart produces, we must measure its "value added," which is defined as the:

Question

Quizplus · Accepted Answer

Value added is defined as the value of sales minus the cost of sales. This represents the value that Wal-Mart adds to inputs such as goods and services purchased from suppliers.