McqMate
| Q. |
Gross Profit means - |
| A. | Total investment over total saving |
| B. | Changes in methods of production |
| C. | Changes in the form of business organisation |
| D. | Total receipts over total expenditure |
| Answer» D. Total receipts over total expenditure | |
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Explanation: In accounting, gross profit or sales profit is the difference between revenue and the cost of making a product or providing a service, before deducting over-head, payroll, taxation, and interest payments. Gross profit = Net sales (total receipts) - Cost of goods sold (total expenditure). |
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