Question on: SS2 Commerce - Calculation of gross and net profit to turnover.
Explain the difference between gross profit margin and net profit margin in relation to a business's financial performance.
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Gross profit margin represents the percentage of gross profit in relation to turnover, indicating the proportion of each dollar of turnover that is retained as gross profit. Net profit margin, on the other hand, represents the percentage of net profit in relation to turnover, indicating the proportion of each dollar of turnover that is retained as net profit after covering all expenses.
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