The excess of cost of goods sold over net sales is
...The excess of cost of goods sold over net sales is
Gross profit
Gross loss
Net profit
Net loss
Correct answer is B
Gross profit – is the excess of net sales over the cost of goods sold. This invariably means that, the excess of cost of goods sold over net sales is a gross loss.
Salaries in arrears is treated in the balance sheet as a ...
The basis of accounting which eliminates debtors and creditors is ...
A trial balance is a list of ...
The accounting equation is ...
Use the following to answer the given question BALANCE SHEET: \(\begin{array}{c|c} & N &am...
A set of instrument or programs which controls the operation of a computer is ...