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General Accounting Principles

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The Gross profit on sales denotes the degree of

Success of business

Position of wealth

Position of sales

None of the above

Explanation:

In case the total sales value exceeds the cost of goods sold, the difference is called Gross Profit. On the other hand, if the cost of goods sold exceeds the total net sales, the difference is Gross Loss. This denotes the sucess of the business whether their sales are going good or not

By: NIHARIKA WALIA

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