[amp_mcq option1=”Rs. 12,000″ option2=”Rs. 5,000″ option3=”Rs. 5,000 (Loss)” option4=”Rs. 7,000″ correct=”option2″]<\/p>\n
The correct answer is: B. Rs. 5,000<\/strong><\/p>\n Gross profit is calculated by subtracting the cost of goods sold from sales. In this case, the cost of goods sold is Rs. 52,000 and sales is Rs. 57,000, so the gross profit is Rs. 5,000.<\/p>\n Gross loss is calculated by subtracting sales from the cost of goods sold. In this case, the cost of goods sold is Rs. 52,000 and sales is Rs. 57,000, so the gross loss is Rs. 5,000 (negative).<\/p>\n Option A is incorrect because it is the gross profit, not the gross loss.<\/p>\n Option C is incorrect because it is the gross loss, not the gross profit.<\/p>\n Option D is incorrect because it is the cost of goods sold, not the gross profit or gross loss.<\/p>\n","protected":false},"excerpt":{"rendered":" [amp_mcq option1=”Rs. 12,000″ option2=”Rs. 5,000″ option3=”Rs. 5,000 (Loss)” option4=”Rs. 7,000″ correct=”option2″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[85],"tags":[],"class_list":["post-52343","post","type-post","status-publish","format-standard","hentry","category-accounting","no-featured-image-padding"],"yoast_head":"\n