Determine which of the definitions below describes gross profit. Multiple choice question. The total money paid by the merchandiser to its supplier including freight costs The difference between net sales and the cost of the goods sold The original cost of the merchandise when purchased from the supplier The amount of money received on the sale of goods

In 2017, "a public university was awarded a federal reimbursement grant" of $18 million to carry out research. of this, $12 million was intended to cover direct costs and $6 million to cover overhead. in a particular year, the university incurred $4 million in allowable direct costs and received $3.4 million from the federal government. it expected to incur the remaining costs and collect the remaining balance in 2018. for 2017 it should recognize revenues from the grant of