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Business Studies

Organisational Objectives

Sales - Cost ...

Question

Sales - Cost of goods sold = ______________.

A

Gross Profit

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B

Gross Loss

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C

Net Profit

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D

Net Loss

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Solution

The correct option is B Gross Profit
Gross Profit is referred as the profit generated out of the core trading activity of the business.
This can be calculated as:

Sales - Cost of goods sold = Gross Profit

Cost of goods sold= Opening Stock + Purchases - Closing Stock

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