Other income is a. added to operating income. b. deducted from operating income. c. added to gross profit. d. deducted from sales.
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- 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 payableGross profit is the difference between: Select one: a. revenues and expenses. b. net income and operating income. c. gross sales and sales discounts. d. Net sales and cost of goods sold.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
- Profit or Loss is computed by subtracting cost / expenses from – a. income/revenue c. sales b. sales discount d. operating expenses The Total Cost and Expenses is calculated by – a. adding cost and expenses b. subtracting expenses from costs c. adding revenue and expense d. subtracting expense from revenueWhich of the following is subtracted from Gross profit to arrive at Operating income?a. How much is the total net revenue? b. How much is the total net profit from the operation? c. How much is the total gross profit? d. How much is the total cost of goods sold
- In a multiple-step income statement, operating expenses are subtracted from gross profit to compute a.other income. b.income from operations. c.net loss. d.net income.operating income is: a- net sales less cost of goods sold b- earning before interset and tax c- earning before tax and nonrecurring items d- gross profit less operating expensesWhat 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
- The calculation of Operating profit does not include the following item: a. Direct expenses O b. Selling expenses c. Gross Profit o d. Administrative expensesQuestion: 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 ProfitThe calculation of Operating profit does not include the following item: a. Administrative expenses b. Direct expenses c. Gross Profit d. Selling expenses