Sales less sales discounts less sales returns and allowances equals:
A) Net income.
B) Cost of goods sold.
C) Gross profit.
D) Net sales.
E) Net purchases.

Question

Quizplus · Accepted Answer

The equation given represents the calculation of net sales, which is the total amount of sales revenue earned after accounting for discounts and returns. Therefore, D (Net sales) is the correct answer.

Sales Less Sales Discounts Less Sales Returns and Allowances Equals