Sales –Gross Profit = HomeFinancial Accounting MCQsSales –Gross Profit =Q. Sales –Gross Profit =A. Cost of goods soldB. Net salesC. Gross SalesD. LiabilitiesAnswer: Cost of goods sold
Rohit carrying on real estate business sold a piece of land for Rs.4,00,00,000 (cost Rs.3,50,00,000) then the type of receipt is nature and profit on sale is