Net sales - cost of goods sold = ________
A) working capital
B) current asset
C) gross profit
D) net profit
E) current liability
Answer: C
Explanation: Gross profit is the amount remaining when the cost of goods sold is deducted from net sales. It is also known as gross margin.
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A financial manager is considering two projects, A and B. A is expected to add $2 million to profits
this year while B is expected to add $1 million to profits this year. Which of the following statements is MOST correct? A) The manager should select project A or he is irrational. B) The manager should select project A because it maximizes profits. C) The manager should select the project that maximizes long-term profits, not just one year of profits. D) The manager should select the project that causes the stock price to increase the most, which could be A or B.