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when creating the income statement, which statement is accurate? multiple choice revenues minus tax expense equals gross profit. revenues minus cost of goods sold equals gross profit. revenues minus depreciation expense equals gross profit. revenues minus general operating expenses equals gross profit.

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When the income statement is being created, an accurate statement is B. revenues minus cost of goods sold equals gross profit.

How to find the gross profit ?

Gross profit is the amount of money a business makes after deducting costs for producing, distributing, and selling its goods or services.

A company's income statement will show gross profit, which is derived by deducting cost of goods sold (COGS) from revenue (sales). The income statement of a business will contain these numbers. Sales profit or gross income are other names for gross profit.

The gross profit, in simple terms, can be found in the income statement when cost of goods sold is subtracted from revenue.

Find out more on gross profit at https://brainly.com/question/8808720

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