Question

operating profit is the difference between: select one: a. cost of goods sold and returns and allowances. b. gross sales and cost of goods sold. c. gross margin and operating expenses. d. gross margin and cost of goods sold. e. net sales and returns and allowances.

Answer 1

Operating profit is the difference between  cost of goods sold and returns and allowances.

What distinguishes operating profit from other profits?

Operating profit is the remaining revenue for a business after all costs have been deducted, excluding the cost of debt, taxes, and certain one-time charges. Net income is the profit that remains after all expenses incurred during the period have been deducted from sales revenue.

How would you define operating profit?

After all running expenditures, including rent, employee salaries, equipment costs, and inventory costs, a company's operational profit is the total amount of revenue it receives from sales.  Gains or losses from interest, taxes, and investments are not included in the operating profit calculation.

To Know more about allowances.

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