Accounting for IGCSE & O level - Final Statements (Section 13 - No. 11)
In a departmental income statement, what is used to determine the gross profit?
Total revenue minus all expenses.
Sales revenue less cost of goods sold.
Selling costs less administrative expenses.
All expenses minus total revenue.
स्पष्टीकरण
Gross profit = Sales Revenue - Cost of Goods Sold.