1 Sales are equal to___

Select one:

a. Cost of goods sold - gross profit

b. Cost of goods sold + gross profit

c. Gross profit + Indirect incomes

d. Gross profit - cost of goods sold

2 Financial accounting is primarily concerned with reporting for the company as a whole.

O True

O False

3 Contribution is the difference between sales and cost of sales. Select one:

O True

O False