Net revenue – cost of sales =
a. net profit
b. gross profit
c. the bottom line
d. the current ratio
e. cost of goods sold
b. gross profit
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Direct costs are assignable directly to a particular ________.
Fill in the blank(s) with the appropriate word(s).
During the current year, Fairview Corporation sold 100,000 units of its product for $20 each. The variable cost per unit was $14, and Fairview's margin of safety was 40,000 units. What was the amount of Fairview's total fixed costs?
A. $840,000 B. $360,000 C. $240,000 D. $560,000
Outsourcing refers to contracting a portion of operations to a third party. Such outsourcing ______.
a. refers to third-party contracting for manufacturing only b. refers to third-party contracting when the third party is located in a different country c. is applicable only for services d. can improve operational flexibility
In the case of a destination contract, the risk of loss passes to the buyer ________
A. when the goods are handed over or placed at his disposal at that place B. as soon as he/she accepts the contract in writing C. when the goods are handed over to the first carrier for shipment D. at the time the contract is concluded