Definition of gross profit

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TeachMeFinance.com - explain gross profit



gross profit -- Sales minus Cost of Goods Sold. The total dollars available to cover general and administrative expenses such as utilities, advertising, rent, etc.


historic accounting definition (British)...

gross profits -- The difference between the cost price and the selling price of goods after taking into consideration the stocks at the commencement or end of the period. In the case of manufacturing, the cost price of material, together with the wages and other charges necessarily incurred in producing the goods, represents their cost.


About the author

Mark McCracken

Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English".


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