GROSS PROFIT Definition

GROSS PROFIT is net sales minus cost of sales.

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NET TANGIBLE ASSET VALUE is the value of the business enterprise's tangible assets (excluding excess assets and non-operating assets) minus the value of its liabilities.

SPLIT-INTEREST AGREEMENT, in not-for-profits, is a contribution to the institution in which the institution must share the investment income/benefits with the donor and other beneficiaries if designated.

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