Formulas Flashcards by Morgan O’Sullivan

Q

Net profit?

A

Sales - COGS - Other expenses

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Q

COGS?

A

Sales - Gross profit

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Q

Assest?

A

Liabilities + Owners equity

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Q

Liabilities?

A

Assets - Owners Equity

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Q

Owners Equity?

A

Assets - Liabilities

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Q

Gross profit?

A

Total income - COGS

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