Identify the incorrect statement(s) regarding profit and cost calculations from the options below:

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Net Profit equals Gross Profit minus administrative and other expenses.Net Profit equals Gross Profit plus administrative and other expenses.Cost of sales is calculated as Opening Stock plus Purchases minus Closing Stock.Both statements B and C are incorrect.None of the above.

Explanation

Statement A is correct: Net Profit is calculated by subtracting administrative and other expenses from Gross Profit. Statement B is incorrect because expenses are deducted, not added, to Gross Profit to find Net Profit. Statement C is also incorrect since Opening Stock plus Purchases minus Closing Stock gives the Cost of Material Consumed, not the Cost of Sales. Therefore, both B and C are false, making option D the correct choice.