Question

State whether the following statement is True or False.
Gross profit depends upon net sales.

• A. True
• B. False

Answer 1

The correct option is A True

Option A is correct one. A company'ssalesrevenue (also referred to as "net sales") is the income that it receives from thesaleof goods or services. On the other hand,gross profitis the income that a company makes from itssalesafter the cost of the goods and operating expenses have been subtracted.