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Accounting ?!!?


Which of the following statements is incorrect?

gross profit - operating expenses = net income
sales - cost of goods sold - operating expenses = net income
net income + operating expenses = gross profit
operating expenses - cost of goods sold = gross profit

The last one is incorrect. A correct way to phrase it would be:

Revenues - cost of goods sold = gross profit.

Sales-cost of goods-operating expense= net income
sounds the best to be correct all other seem to be missing something the last one makes no seance

operating expenses-cost of goods sold does not equal gross profit.
Net income + operating expenses does not equal gross profit

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