Common terminology, but not definitions in U.S.GAAP and IFRS, often refers to the difference between sales and cost of sales as gross
A)margin.
B)revenues.
C)expenses.
D)all of the above.
E)none of the above.

Question

Quizplus · Accepted Answer

Gross margin refers to the difference between sales and cost of sales. Revenues and expenses are not specific to this calculation and are not accurate choices for the term being described.

Common Terminology, but Not Definitions in U