What is the term applied to the excess of revenue from sales over the Cost of Merchandise Sold? a. net income Ob. gross sales Oc. gross profit Od. income from operations

Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter22: End-of-fiscal-period Work For A Corporation
Section22.2: Preparing An Income Statement, Statement Of Stockholders’ Equity, And Balance Sheet
Problem 1AYU
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What is the term applied to the excess of revenue from sales over the Cost of Merchandise Sold?
a. net income
Ob. gross sales
Oc. gross profit
Od. income from operations
Transcribed Image Text:What is the term applied to the excess of revenue from sales over the Cost of Merchandise Sold? a. net income Ob. gross sales Oc. gross profit Od. income from operations
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