What is the difference between net sales and gross sales? What will b
QUESTION
What is the difference between net sales and gross sales?
What will be an ideal response?
ANSWER
Answer: Gross sales are the funds received from all sales of the firm’s products. Net sales is the money resulting after sales returns and allowances are subtracted from gross sales.
Explanation: Gross sales are the funds received from all sales of the firm’s products. Net sales is the money resulting after sales returns and allowances are subtracted from gross sales.
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