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Author Question: Gross profit equals ________. A) sales minus cost of goods sold B) operating income minus cost ... (Read 228 times)

formula1

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on: Jul 5, 2018
Gross profit equals ________.
 
  A) sales minus cost of goods sold
  B) operating income minus cost of goods sold
  C) the increase in cash for the period
  D) revenue minus expenses

Question 2

After the closing entries have been posted, which of the following accounts would still have a balance?
 a. Miscellaneous Revenues
   b. Accumulated Depreciation Equipment
   c. Salaries Expense
   d. Supplies Expense


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vseab

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Reply #1 on: Jul 5, 2018
Answer to Question 1

A

Answer to Question 2

b


formula1

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Reply 2 on: Jul 5, 2018
YES! Correct, THANKS for helping me on my review

zacnyjessica

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Reply 3 on: Yesterday
Excellent

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