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    • Question

      Which one of the following denotes Gross

      Profit?
      A Cost of goods sold + Opening stock Correct Answer Incorrect Answer
      B Sales less Cost of goods sold Correct Answer Incorrect Answer
      C Sales less Purchases Correct Answer Incorrect Answer
      D Net profit less Expenses of the period Correct Answer Incorrect Answer

      Solution

      Gross profit = sales less cost of goods sold.

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