Which of the following expressions is incorrect?
A) Gross profit - Operating expenses = Net income
B) Sales revenue - cost of goods sold - Operating expenses = Net income
C) Net income + Operating expenses = Gross profit
D) Operating expenses - Cost of goods sold = Gross profit

Question

Quizplus · Accepted Answer

Operating expenses minus the cost of goods sold does not equal gross profit. Gross profit is calculated as sales revenue minus the cost of goods sold.

Which of the Following Expressions Is Incorrect