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Q: 14. Gross profit represents profit after the deduction of cost of goods sold, and before the deduction of all other selling expenses, general expenses, and tax expense. (Points : 2) True
False
A: Gross profit represents profit after the deduction of cost of goods sold, and before the deduction of all other selling expenses, general expenses, and tax expense. TRUE.
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Asked 7/7/2012 3:54:29 PM
Updated 7/17/2016 3:21:05 PM
1 Answer/Comment
Unflagged by jeifunk [7/17/2016 3:20:05 PM], Edited by jeifunk [7/17/2016 3:21:05 PM]
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Gross profit represents profit after the deduction of cost of goods sold, and before the deduction of all other selling expenses, general expenses, and tax expense. TRUE.

Added 7/17/2016 3:17:57 PM
This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [7/17/2016 3:21:07 PM]
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Accounting is an easy subject for people to understand because almost everyone is exposed to basic accounting concepts in their everyday life. True False
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Updated 198 days ago|12/2/2017 8:34:55 PM
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Accounting is an easy subject for people to understand because almost everyone is exposed to basic accounting concepts in their everyday life. FALSE.
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26. _________ refers to how quickly an asset can be converted into cash. (Points : 3) Liquidity Velocity Fundability Accessibility
Weegy: Fundability (More)
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Updated 5/28/2015 11:38:33 PM
1 Answer/Comment

LIQUIDITY refers to how quickly an asset can be converted into cash.

Added 5/28/2015 11:38:29 PM
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