Gross profit is calculated as ________.
A) total sales - cost of sales - selling, general, and administrative expenses - depreciation and amortization
B) total sales - cost of sales - selling, general, and administrative expenses
C) total sales - cost of sales
D) none of the above

Question

Quizplus · Accepted Answer

Gross profit is calculated by subtracting the cost of sales from total sales. Selling, general, and administrative expenses and depreciation and amortization are not part of the calculation for gross profit.

Gross Profit Is Calculated as ________