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Answer : 4. "Total receipts over total expenditure."
Gross Profit means–
5Q:
Gross Profit means–
- 1Total investment over total savingsfalse
- 2Changes in methods of productionfalse
- 3Changes in the form of business organisationfalse
- 4Total receipts over total expenditure.true
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Answer : 4. "Total receipts over total expenditure."
Explanation :
Gross profit = Net sales (total receipts) - Cost of goods sold (total expenditure)
In other words it is the total receipt over total cost.