What is the formula for calculating Gross Profit?
Homework (HT2.3- Gross Profit)

Quiz
•
Business
•
10th Grade
•
Medium
Kristie Hallmark
Used 3+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Revenue - Operating Expenses
Revenue - Cost of Goods Sold
Revenue - Taxes
Revenue - Net Profit
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a factor that can affect Gross Profit?
Interest Rates
Cost of Goods Sold
Employee Satisfaction
Tax Rates
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is Gross Profit important for a business?
It shows the total revenue of the business.
It indicates the profitability of core business activities.
It reflects the total expenses of the business.
It determines the tax liability of the business.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If a company has a revenue of £500,000 and a Cost of Goods Sold of £300,000, what is the Gross Profit?
£200,000
£300,000
£500,000
£800,000
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following would likely increase a company's Gross Profit?
Increasing the cost of raw materials
Reducing the selling price of products
Increasing sales volume while maintaining the same cost of goods sold
Increasing employee wages
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does a decrease in the Cost of Goods Sold affect Gross Profit?
It decreases Gross Profit.
It has no effect on Gross Profit.
It increases Gross Profit.
It doubles the Gross Profit.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT included in the calculation of Gross Profit?
Revenue
Cost of Goods Sold
Operating Expenses
Sales Returns
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