By the end of its financial year, a company has total revenue of 7 million, Cost of
Question:
By the end of its financial year, a company has total revenue of £7 million, Cost of sales
£5 million, and total expenses £3 million. Which one of the following statements is true about this company?
(a) It makes both a gross loss and an operating loss
(b) It makes a gross loss and an operating profit
(c) It makes both a gross profit and an operating profit
(d) It makes a gross profit and an operating loss
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Related Book For 
Accounting And Finance For Business
ISBN: 9780273773948
1st Edition
Authors: Geoff Black, Mahmoud Al-Kilani
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