Question

The difference between selling price and cost price of goods is known as gross loss or net loss

Answer 1

Answer:

well i guess you are mixing up eco and accounts at the same time

Explanation:

so for economics

selling prices means : price fixed by government on basis of demand of goods that is done on necessary goods like agriculture

whereas,

cost price : Minimun price that should be payed to sellers by buyers

for accountancy

gross loss means total loss by an organization

net loss means current loss commits by an organization