The profit on merchandise sold before expenses is

Question

Quizplus · Accepted Answer

Gross Profit is the profit earned on merchandise sold before any expenses are deducted. Gross Sales is the total amount of sales made without considering any returns or discounts. Net Sales is the total amount of sales made after deducting returns and discounts. Net income is the profit earned after deducting all expenses from the revenue earned. Therefore, the correct answer is option B) Gross Profit.

The Profit on Merchandise Sold Before Expenses Is