The difference between gross sales and net sales is equal to the sum of sales discounts and sales returns and allowances.

Name: The difference between gross sales and net sales is equal to the sum of sales discounts and sales returns and allowances.
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Question

Quizplus · Accepted Answer

Gross sales minus the sum of sales discounts, sales returns, and allowances equals net sales. This calculation adjusts the total sales figure to reflect the actual revenue received.

The Difference Between Gross Sales and Net Sales Is Equal