Gross profit is calculated by deducting ________ from sales revenue.
A) total fixed costs
B) cost of goods sold
C) total variable costs
D) selling and administrative costs

Question

Quizplus · Accepted Answer

Gross profit is the amount of revenue that remains after deducting the cost of goods sold from the sales revenue. Therefore, the correct answer is B - cost of goods sold.

Gross Profit Is Calculated by Deducting ________ from Sales Revenue