Help me tutor of account. The formula to calculate Gross profit is:a. Revenues - Expensesb. Revenues - Taxes & Depreciationc. Revenues + Net incomed. Revenues - Cost of Goods sold

The correct answer is:d. Revenues - Cost of Goods Sold Explanation:Gross Profit is the profit a…

Answered: The formula to calculate Gross profit…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 32MCQ

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Similar questions

Which of the following is a measurement of earnings that represents the profit before interest, taxes, depreciation and amortization are subtracted? A. net income B. retained earnings C. EBITDA D. EPS
A multi-step income statement ________. A. separates cost of goods sold from operating expenses B. considers interest revenue an operating activity C. is another name for a simple income statement D. combines cost of goods sold and operating expenses
Which of the following represents the components of the income statement for a service business Sales Revenue - Cost of Goods Sold = gross profit Service Revenue - Operating Expenses = operating income Sales Revenue - Cost of Goods Manufactured = gross profit Service Revenue - Cost of Goods Purchased = gross profit
What is the term used for the profit on a sale before any operating expenses have been deducted? a. Net Income b. Net Profit c. Gross Profit d. Gain on Sale e. All of the above
Gross profit is equal to Select one: a. revenues - expenses b. sales - cost of goods sold c. profits plus depreciation d. earnings before taxes minus taxes payable
Net Sales Cost of Goods Sold is equal to: - a. Gross Expenses. b. Gross Profit. c. Operating Expenses. d. Net Income from Operations.
Question: What is the formula for calculating the net profit margin? a. Net Profit / Revenue b. Revenue / Net Profit c. Net Profit / Total Assets d. Total Assets / Net 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
Which is the formula for Gross Margin ratio? Seleccione una: a. Cost of Sales / Gross Revenues b. Revenues / Gross Expenses c. Revenues - Expenses d. Gross Profit / Sales Revenues e. Net Margin + Expenses / Gross Revenues
which of the following comes first in the income statement O a. finance cost O b. gross profit O C. C. cost of sales O d. distribution cost
The difference between a company's sales and cost of goods sold is referred to as the: a. gross profit. b. net income. c. retained earnings. d. gain on the sale. e. operating profit.
Solomon Manufacturing Company was started on January 1, year 1, when it acquired $83,000 cash by issuing common stock. Solomon immediately purchased office furniture and manufacturing equipment costing $7,000 and $ 27,600, respectively. The office furniture had an eight-year useful life and a zero salvage value. The manufacturing equipment had a $3,900 salvage value and an expected useful life of three years. The company paid $11, 100 for salaries of administrative personnel and $15, 600 for wages to production personnel. Finally, the company paid $10, 380 for raw materials that were used to make inventory. All inventory was started and completed during the year. Solomon completed production on 4, 400 units of product and sold 3,490 units at a price of $15 each in year 1. (Assume that all transactions are cash transactions and that product costs are computed in accordance with GAAP.)

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The formula to calculate Gross profit is: a. Revenues - Expenses b. Revenues - Taxes & Depreciation c. Revenues + Net income d. Revenues - Cost of Goods sold