passwella.
Menu

WAEC Commerce 2006 Question 48

Question 48

Business Calculations

The difference between the cost of goods sold and the sales value is known as

  1. A.net profit
  2. B.net loss
  3. C.gross profit or loss
  4. D.surplus
Show the answer and explanation

Answer: C (gross profit or loss)

Explanation

Sales minus cost of goods sold gives gross profit (or gross loss).