Accounting for IGCSE & O level - Final Statements (Section 6 - No. 16)
What is 'gross profit' used for?
To calculate the total business expenses.
To help assess the company's tax burden.
To determine a company's profitability.
To calculate total sales.
ব্যাখ্যা
It’s a preliminary measure of a company's profitability, calculated before considering operating expenses.