Accounting Principles Pr Study guides, Class notes & Summaries
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Accounting Principles Prep Questions With Verified Answers
- Exam (elaborations) • 11 pages • 2023
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- $12.99
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Accounting Principles Prep 
Questions With Verified Answers 
Which of the following expressions is incorrect? 
Sales revenue - cost of goods sold - Operating expenses = Net 
income 
Operating expenses - Cost of goods sold = Gross profit 
Net income + Operating expenses = Gross profit 
Gross profit - Operating expenses = Net income - ANSWER 
Operating expenses - Cost of goods sold = Gross profit 
Net income - ANSWER gross profit - operating expenses 
or 
Sales revenue - cost of goods sold - O...
-
Accounting Principles Prep Questions With Verified Answers
- Exam (elaborations) • 11 pages • 2023
-
- $12.99
- + learn more
Accounting Principles Prep 
Questions With Verified Answers 
Which of the following expressions is incorrect? 
Sales revenue - cost of goods sold - Operating expenses = Net 
income 
Operating expenses - Cost of goods sold = Gross profit 
Net income + Operating expenses = Gross profit 
Gross profit - Operating expenses = Net income - ANSWER 
Operating expenses - Cost of goods sold = Gross profit 
Net income - ANSWER gross profit - operating expenses 
or 
Sales revenue - cost of goods sold - O...
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