Question

what is gross profit and gross loss in simple words ?​

Answer 1

Answer:

Gross profit or gross loss is the difference between the 'cost of goods sold' and 'sales'. In accounting terms gross profit is the excess of revenue over cost of sales.

Answer 2

Answer:

Gross profit or gross loss is the difference between the 'cost of goods sold' and 'sales'. In accounting terms gross profit is the excess of revenue over cost of sales.