Match the terms below with the correct definitions.
-Excess of net sales over the cost of goods sold
A)Property and equipment
B)Reversing entries
C)Gross profit
D)Current ratio
E)Working capital
F)Net income or net loss
G)Net sales
H)Income from operations
I)Long-term liabilities
J)Liquidity

Question

Quizplus · Accepted Answer

Gross profit is defined as the excess of net sales over the cost of goods sold.

Match the Terms Below with the Correct Definitions