Question Question: 69Which of the following expressions is incorrect?A. Gross profit - operating expenses = net incomeB. Sales revenue cost of goods sold - operating expenses = netincomeC. Net income + operating expenses = gross profitD. Operating expenses - cost of goods sold = gross profit

Explanation of Gross Profit:Gross Profit is the profit a company makes after subtracting the Cost of…

Answered: Question: 69 Which of the following…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 20MC: A multi-step income statement ________. A. separates cost of goods sold from operating expenses B....

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this is general account question
Which of the following expressions is incorrect? Gross profit - operating expenses = net income Net income + operating expenses = gross profit ● Sales revenue - cost of goods sold - operating expenses = net income ● Operating expenses - cost of goods sold = gross profit
Cost accounting
Total revenue minus total cost equals: a. quantity. b. change in profit. c. marginal cost. d. marginal revenue. e. profit.
The gross profit percentage is equal to: A. Net operating income/Sales B. Cost of goods sold/Sales C. Cost of goods sold/Net income D. (Net operating income + Operating expenses)/Sales E. (Net operating income - Operating expenses) /Sales
On a traditional income statement, sales revenue less cost of goods sold equals Question 26 options: operating income. operating expenses. contribution margin. gross profit.
The equation for Gross Profit is "Gross Profit = Revenues - Cost of Goods." Which of the following would increase the Gross Profit?
Q1. On a multiple-step income statement, the excess of sales over the cost of goods sold is called: A. Operating income B. Income from Operations C. Gross Profit D. Net Income
General Account
8. The difference between total sales in dollars and total cost of goods sold is called: A. net operating income. B. net profit. C. the gross margin. D. the contribution margin.
7. Consider the following: Code: A= Gross Profit to Net Sales Ratio B= Gross Profit to Cost of Goods Sold Ratio Which equation is correct? B = A a. 1 - A b. B = 1 + A A с. B = 1 - A A d. B = A 1 + A
QUESTION 22 Which of the following is an incorrect statement? Revenue - Operating Income = Gross Margin Revenue = Price * Qty sold or TR = P*Q EAT = EBT - Taxes Income - Expenses = Operating Income Revenue - CGS = Gross Profit

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Question: 69 Which of the following expressions is incorrect? A. Gross profit - operating expenses = net income B. Sales revenue cost of goods sold - operating expenses = net income C. Net income + operating expenses = gross profit D. Operating expenses - cost of goods sold = gross profit