Is it true or false that gross profit equals revenue minus taxes for a construction company?

Gross profit is calculated as revenue minus the cost of goods sold (COGS), not revenue minus taxes. For a construction company, gross profit reflects the profitability from the core business activities before accounting for other expenses such as administrative costs, taxes, and interest expenses. Thus, stating that gross profit equals revenue minus taxes is indeed incorrect. It's important to accurately differentiate between gross profit, operating profit, and net profit, as each measures different aspects of financial performance.

In summary, gross profit specifically excludes taxes and includes the costs directly associated with producing the revenue, making the assertion false.