Business Definition for: gross
gross
- highest amount, as when referring to sales or income.
- in quantity of merchandise, 12 dozen, or 144.
gross
Related Terms:
insurance coverage for loss in the gross earnings of the business (minus expenses that cease while the business is inoperative) as the result of the interruption of normal business activities caused by damage to the premises by an insured peril. Noncontinuing expenses include light, gas, and advertising for which there is no contractual obligation.
General: net premium, plus operating and miscellaneous expenses, and agent's commissions.
Life insurance: premium before dividends are subtracted.
amount of money earned (which is collected or will be collected) from the sale of goods minus the cost of the goods sold; also called gross profit or gross margin. For example, if sales total $4000 and the cost of goods sold is $1200, the gross income is $2800 ($4000 - $1200). Gross profit less operating expenses equals net income.
Copyright © 2007, 2000, 1997, 1987, by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.
Copyright © 2000, 1995, 1991, 1987 by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.
