Question and answer
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.
Question
Asked 4/3/2012 1:20:42 PM
Updated 6/13/2015 3:04:25 AM
1 Answer/Comment
Flagged by emdjay23 [6/12/2015 3:59:11 PM], Edited by jeifunk [6/13/2015 3:04:25 AM]
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User: 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.

Question
Asked 4/3/2012 1:20:42 PM
Updated 6/13/2015 3:04:25 AM
1 Answer/Comment
Flagged by emdjay23 [6/12/2015 3:59:11 PM], Edited by jeifunk [6/13/2015 3:04:25 AM]
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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 6/12/2015 3:59:11 PM
This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [6/13/2015 3:04:20 AM]
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Questions asked by the same visitor
what is a financial transactions? User: what is a financial transaction User: The "bottom line" of an income statement shows the firm's: User: _______ refers to the value that stockholders or owners have in a company. User: _________ is the systematic write-off of the value of a tangible asset over its useful life. User: The Statement of Cash flows identifies cash receipts and disbursements that result _______________.
Question
Updated 6/17/2014 12:09:54 AM
3 Answers/Comments
A financial transaction is an agreement, communication, or movement carried out between a buyer and a seller to exchange an asset for payment.
Added 6/17/2014 12:08:23 AM
This answer has been confirmed as correct and helpful.
Owner's equity refers to the value that stockholders or owners have in a company.
Added 6/17/2014 12:09:10 AM
This answer has been confirmed as correct and helpful.
Depreciation is the systematic write-off of the value of a tangible asset over its useful life.
Added 6/17/2014 12:09:54 AM
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