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Question

# Sales are equal to__________. Purchases + Gross ProfitCost of goods sold + Gross ProfitPurchases + Cash in handCost of goods sold + Net Profit

A
Cost of goods sold + Gross Profit
B
Cost of goods sold + Net Profit
C
Purchases + Gross Profit
D
Purchases + Cash in hand
Solution
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#### Accounting Equation can be represented as:Cost of Goods Sold=Opening Stock+Purchases+Direct Expenses-Closing StockSales= Cost of Goods Sold + Gross Profit

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