which of the following statements best describes the difference between net income and gross profit?\na…

which of the following statements best describes the difference between net income and gross profit?\na. gross profit considers operating expenses while net income does not.\nb. net income considers operating expenses while gross profit does not.\nc. gross profit deducts taxes while net income does not.\nd. net income deducts taxes while gross profit does not.

which of the following statements best describes the difference between net income and gross profit?\na. gross profit considers operating expenses while net income does not.\nb. net income considers operating expenses while gross profit does not.\nc. gross profit deducts taxes while net income does not.\nd. net income deducts taxes while gross profit does not.

Answer

Brief Explanations:

Gross profit is calculated as revenue minus cost of goods sold, without considering operating expenses and taxes. Net income is calculated after deducting all expenses including operating expenses and taxes from revenue. So net income deducts taxes while gross profit does not.

Answer:

d. Net income deducts taxes while gross profit does not.