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Which of the following equations correctly describes how to calculate gross profit?
a. gross profit = (net sales) - (cost of goods sold)
b. gross profit = (cost of goods sold) - (net sales)
C. gross profit = (net income) - (operating expenses)
d. gross profit = (operating expenses) - (net income)
Please select the best answer from the choices provided

Respuesta :

It will be a . Because it is revenue minus cost of goods sold .

Gross profit is the profit a firm makes after deducting the costs of manufacturing. The correct option is A.

What is gross profit?

Gross profit is the profit a firm makes after deducting the costs of manufacturing and selling its products or providing its services from the revenue the company made.

The equation that correctly describes the gross profit is,

gross profit = (net sales) - (cost of goods sold)

Therefore, the correct option is A.

Learn more about Gross Profit:

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