A company's gross profit was $83,750 and its net sales were $347,800. Its gross margin ratio equals:
A. 24.1%.
B. $264,050.
C. $83,750.
D. 75.9%.
E. 4.2%.
Answer: A
You might also like to view...
Which of the following is not considered to be non-sampling risk?
a. Misinterpretation of information. b. Use of improper audit procedure. c. The sample does not represent the population. d. Carelessness of the auditor.
A senser is a people-oriented individual who is sensitive to people's needs.
Answer the following statement true (T) or false (F)
Attestation services are similar, but go beyond assurance services in scope of procedures and reporting.
Answer the following statement true (T) or false (F)
The carrying value of bonds at maturity always equals:
A. the amount of cash originally received in exchange for the bonds. B. $0. C. the amount of discount or premium. D. the amount of cash originally received in exchange for the bonds plus any unamortized discount or less any premium. E. the par value of the bond.