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Question #1: The Income Statement always shows the results of business operations over a specific period of time including: O (A) A Month, a Quarter, or a Year (B) A Quarter, a Year, or 3 Years O(C) A Month, a Year, or 5 Years (D) A Week, a Month, or a Year Question #1: Gross Profit Formula always derives from the equation: O (A) Sales - Costs of Goods Sold = Gross Profit (GP) (B) Costs of Goods Sold - Gross Profit (GP) = Sales (C) Gross Profit (GP) - Sales = Costs of Goods Sold Question #1: Gross Profit Formula always derives from the equation: O (A) Sales - Costs of Goods Sold = Gross Profit (GP) (B) Costs of Goods Sold - Gross Profit (GP) = Sales (C) Gross Profit (GP) - Sales = Costs of Goods Sold