QuestionMay 5, 2026

What is the formula for determining gross profit? Gross profit=Income/Cost of goods Gross profit=Income+Cost of goods Gross profit=Income-Cost of goods Gross profit=IncomexCost of goods

What is the formula for determining gross profit? Gross profit=Income/Cost of goods Gross profit=Income+Cost of goods Gross profit=Income-Cost of goods Gross profit=IncomexCost of goods
What is the formula for determining gross profit?
Gross profit=Income/Cost of goods
Gross profit=Income+Cost of goods
Gross profit=Income-Cost of goods
Gross profit=IncomexCost of goods

Solution
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Answer

Gross\ profit = Income - Cost\ of\ goods Explanation 1. Identify Correct Formula Gross profit is total income minus cost of goods sold. 2. Select Matching Option Correct choice is Gross\ profit = Income - Cost\ of\ goods.

Explanation

1. Identify Correct Formula <br /> Gross profit is total income minus cost of goods sold. <br />2. Select Matching Option <br /> Correct choice is $Gross\ profit = Income - Cost\ of\ goods$.
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