What is the term applied to the excess of net sales over the cost of goods sold?
A)gross sales
B)profit from operations
C)profit
D)gross profit

Question

Quizplus · Accepted Answer

The term applied to the excess of net sales over the cost of goods sold is gross profit. It is calculated by subtracting the cost of goods sold from net sales. Gross profit represents the amount of revenue that remains after accounting for the cost of producing goods or services, but before deducting operating expenses or interest and taxes.

What Is the Term Applied to the Excess of Net