Question

What financial information is obtained by subtracting cost of goods sold from total sales in a given period.

A. Gross profit
B. Net profit
C. Final profit
D. Operating costs

Answer 1

Gross profit is the financial information obtained by subtracting cost of goods sold from total sales in a given period.

Step-by-step explanation:

The financial information obtained by subtracting cost of goods sold from total sales in a given period is called Gross profit. Gross profit is the difference between the revenue generated from selling goods and the direct costs of producing those goods. It represents the profit a company makes before deducting operating expenses and taxes.