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The following statements regarding gross profit are true except : Multiple Choice Gross profit is also called gross margin. Gross profit less other operating expenses
The following statements regarding gross profit are true except:
Multiple Choice
Gross profit is also called gross margin.
Gross profit less other operating expenses equals income from operations.
Gross profit is not calculated on the multiple-step income statement.
Gross profit must cover all operating expenses to yield a return for the owner(s) of the business.
Gross profit equals net sales less cost of goods sold.
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