The formula "(Sales Revenue – Cost of Goods Sold) + Sales Revenue" produces:

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Quiz Q7
The formula "(Sales Revenue – Cost of Goods
Sold) ÷ Sales Revenue" produces:
Select one:
a. An amount referred to as Gross Profit
b. An amount referred to as Net Profit
c. An percentage referred to as Net
Profit Margin
d. A percentage referred to as Gross
Profit Margin
Transcribed Image Text:The formula "(Sales Revenue – Cost of Goods Sold) ÷ Sales Revenue" produces: Select one: a. An amount referred to as Gross Profit b. An amount referred to as Net Profit c. An percentage referred to as Net Profit Margin d. A percentage referred to as Gross Profit Margin
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