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In income statement, gross profit is always equal to?

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Question ajoutée par Muhammad Ramzan Tufail ACCA , Assistant Finance Manager , Eltizam Asset Management Group
Date de publication: 2015/06/02
Shahbaz Hayder
par Shahbaz Hayder , Group Head of Finance , Sharif Group of Companies

Yes Option C is the right answer.

Abbas  Bharmal CA Inter M com Looking for New
par Abbas Bharmal CA Inter M com Looking for New , Senior Accountant , Msheireb Properties

C. Sales-Cost of goods sold

PRADEEP VELAYUDHAN
par PRADEEP VELAYUDHAN , Chief Accountant , Super Group

c) sales-cost of goods sold--------------------

Answer is Cbecause the formula of Cost of Goods Sold is Sale-Gross profit or we can compute GP by using Trading A/c Because COGS = Opening stock + purchases - Closing stock. 

So GP = SALES-COGS

Abdul Majid Khatri
par Abdul Majid Khatri , A Qualified Chartered Accountant , Honeycomb Logistics Pvt. Ltd.

Sale -  Cost of goods Sold................!!!

Utilisateur supprimé
par Utilisateur supprimé

Answer is

C)Sales-cost of goods sold

Abdul Fatah AbdulAleem
par Abdul Fatah AbdulAleem , Real Estate Broker , Al Nahdha real estate company L.L.C

Gross Profit =sales - cost of goods sold

Muhammad Ahmad Khan
par Muhammad Ahmad Khan , Senior Internal Auditor , KPMG Taseer Hadi & Co. Chartered Accountants
Wasim khan wazir
par Wasim khan wazir , Finance Specialist , Mott Macdonald

Option C is correct one. sale less CGS

Muhammad Hamid
par Muhammad Hamid , Senior Financial Accountant , Al Rowad Trading Co LLC

Option C..... it is always equal to Sales - COGS

Haidar Alali
par Haidar Alali , GL Accountant , National OilWell Varco NOV

Option C, Sales - cost of goods sold.

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