On an income statement, revenue less cost of goods sold (COGS) equals which of the following?

Question

Quizplus · Accepted Answer

Revenue less COGS gives us the gross profit. Gross profit is the difference between revenue and the expenses directly associated with making and selling a product or providing a service. It does not include operating expenses such as salaries, rent, or advertising, which are subtracted separately to arrive at net profit or loss.

On an Income Statement, Revenue Less Cost of Goods Sold