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Excess of sale over cost of goods in an accounting period is termed as ______?

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Excess of sale over cost of goods in an accounting period is termed as ______? Answer: Gross Profit

When the sales revenue earned by a business during an accounting period exceeds the cost of goods sold (COGS), the difference is called profit.

Question context

This question is part of 📚 General Knowledge within the broader 🌐 Current Affairs & GK subject and appears in the Audit preparation collection. Reviewing the answer together with nearby questions helps reinforce the underlying concept and identify how it may appear in competitive exams.