Select the appropriate definition of each of the items listed below.
-Gross margin − selling and administrative expenses
A)Income Statement
B)Cost of goods manufactured
C)Work in process
D)Gross margin
E)Operating income

Question

Quizplus · Accepted Answer

Operating income is calculated by subtracting selling and administrative expenses from the gross margin. This figure represents the profit generated from a company's core business operations.

Select the Appropriate Definition of Each of the Items Listed