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4. What is the difference between gross profit and net
profit?
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Answer / lola
gross profit means the amount left over from the revenue
net profit means the total of revenue
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / r v indiresh
Total sales revenue i.e., Gross Sales less Excise duty (if
any) is the Net Sales.
Net Sales less operating expenses(before interest) is the
Operating Profit before interest.
Operating Profit less Interest is Operating Profit after
interest.
Operating Profit after interest less selling & General
Administration Expenses is the GROSS PROFIT.
Gross Profit plus Non-Operating Income and less
Non-Operating Expenses is Net Profit before tax.
Net Profit less Income Tax is Net Profit after Tax.
| Is This Answer Correct ? | 2 Yes | 2 No |
Answer / praveen kumar
gross profit with out net profit we can prepair treading
account but with out gross profit we are not possible to
prepair profit and loss account
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / venugopal reddy
G. Profit: Net sales- oping stock+ Purchases+ All Direct exp
Net profit: G.Profit+ other incomes- All indirect exp
| Is This Answer Correct ? | 4 Yes | 5 No |
Answer / ca
1. GROSS PROFIT = [OPENING STOCK + PURCHASE ( PURCHAS -
PURCHASE RETURN) + DIRCET EXPENSES] - [SALES ( SALES -
SALES RETURN)+ CLOSING STOCK].
NET PROFIT = [GROSS PROFIT + INCOMES] - [EXPENDITURE]
2. GROSS PROFIT INCLUDED THE DIRECT EXPENSES.
NET PROFIT INCLUDED ONLY INDIRECT EXPENSES.
CALCULATION :
1. NET PROFIT = GROSS PROFIT + ALL INCOMES - ALL
EXPENDITURE.
2. GROSS PROFIT = NET PROFIT + ALL EXPENDITURE - ALL INCOMES
| Is This Answer Correct ? | 1 Yes | 2 No |
GROSS PROFIT = NET PROFIT + ALL EXPENDITURE - ALL INCOMES
NET PROFIT = [GROSS PROFIT + INCOMES] - [EXPENDITURE]
| Is This Answer Correct ? | 9 Yes | 14 No |
Answer / divya
expenses & income related to production or upto sales are
included in GP , after sales or related to sales are
include in NP
| Is This Answer Correct ? | 14 Yes | 25 No |
Can anybody send me Interview questions & Answers to me IN Accounts & finance my Mail ID - virupaksha_krt@rediffmail.com
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