Gross profit is equal to the sales received from goods and the operating expenses incurred during the period.

Name: Gross profit is equal to the sales received from goods and the operating expenses incurred during the period.
Brand: Quizplus
Rating: 4.8 (30 reviews)

Question

Quizplus · Accepted Answer

Gross profit is equal to the sales received from goods minus the cost of goods sold, not operating expenses. Operating expenses are deducted from gross profit to arrive at net profit.

Gross Profit Is Equal to the Sales Received from Goods