Asked by Justin Brady on Jul 19, 2024
Verified
What is the term applied to the excess of sales over the cost of goods sold?
A) gross profit
B) operations
C) net income
D) gross sales
Gross Profit
The income a business earns once it subtracts the expenses involved in producing and marketing its goods, or the expenses related to delivering its services.
- Determine and realize the value of gross profit in the context of commercial activities.
Verified Answer
AJ
Ashlyn JohnsonJul 22, 2024
Final Answer :
A
Explanation :
The excess of sales over the cost of goods sold is known as gross profit.
Learning Objectives
- Determine and realize the value of gross profit in the context of commercial activities.