Difference between revisions of "Gross profit"

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[[Gross profit]] is [[net sales]] less [[cost of goods sold]].
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[[Gross profit]] is [[net sales]] less [[cost of goods sold]] if the sales are bigger than the costs. Otherwise, the result is called ''gross loss''.
  
  

Revision as of 20:01, 21 December 2018

Gross profit is net sales less cost of goods sold if the sales are bigger than the costs. Otherwise, the result is called gross loss.


Definitions

According to College Accounting: A Practical Approach by Slater (13th edition)‎,

Gross profit. Net sales less cost of goods sold.

Related concepts

Related coursework