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Which of the following statements regarding gross profit is not true? Multiple Choice Gross profit must cover all operating expenses to yleld a return for
Which of the following statements regarding gross profit is not true? Multiple Choice Gross profit must cover all operating expenses to yleld a return for the owner(s) of the business. Gross profit is not calculated on the multiple-step income stotement. Gross profit less other operating expenses equals income from operations. Gross proft is also called gross margin. Gross profit equals net saies less cost of goods sold
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