Gross profit is Select one: a. Sales fewer Purchases b. Net profit fewer expenses of the period c. Excess of sales over cost of goods sold d. Cost of goods sold + Opening stock The person to whom goods are sold on credit is called Select one: a. Seller b. Creditor c. Debtor d. Buyer When owner withdraw cash for its private use, it is called Select one: O a. Income b. Expense c. Profit O d. Drawing