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What is the diff. between gross profit and net profit?
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Answer / ashid puzhakkal, m.com.,b.ed.
Gross profit is the excess of sales over cost of goods
sold. It is the trading profit and does not cover indirect
expenses or incomes.
Net profit is the Net result of a concern after taking into
account all indirect expenes, incomes, tax etc.
| Is This Answer Correct ? | 19 Yes | 2 No |
Gross Profit represents profit relating to the core
operation or extent of core operations of the firm, where
as net profit represents over all profitability of the firm.
| Is This Answer Correct ? | 6 Yes | 3 No |
Gross Profit = (Sales+Closing Stock+Direct Income)-(Opening
Stock+Purchases+Direct exp)
Net Profit = (Gross Profit+All indirect income)-(All
operating exp)
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / as
gross profit is sales-indirect exp=gross profit
net profit is=gross profit-direct exp
| Is This Answer Correct ? | 4 Yes | 16 No |
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