Gross profit is the difference between ........

Accountancy (Phase -I & II) Accounting cycles

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Gross profit is the difference between

Sales and purchases

Sales and cost of goods sold

Sales and total expenses

None of these

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Explanation:

Gross profit is the profit a company makes after deducting the costs associated with making and selling its products, or the costs associated with providing its services. Gross profit will appear on a company's income statement and can be calculated by subtracting the cost of goods sold (COGS) from revenue (sales)