A loss will occur if expenses exceed: a. Gross sales b. Gross ...

[newyorker26]

A loss will occur if expenses exceed:
 
  a. Gross sales
  b. Gross margin
  c. Net sales
  d. Contribution expenses

Question 2

The relationships among these three factors, which are shown in skeletal statements, are used to determine a profit or loss:
 
  a. Net sales and expenses
  b. Net sales, cost of merchandise sold, and gross margin
  c. Direct and direct expenses, gross margin, and cost of merchandise sold
  d. Net sales, expenses, and cost of merchandise sold

[tuwy]

Answer to Question 1

b. Gross margin

Answer to Question 2

d. Net sales, expenses, and cost of merchandise sold

[newyorker26]

Thanks for the timely response, appreciate it

[juliaf]

Excellent