The gross profit percentage for Elk Roofing Products is 20%. If the company has Net Sales of $850,000 for the year, what was the amount of Cost of Goods Sold?
A. $750,000
B. $170,000
C. $250,000
D. $680,000
Answer: D
You might also like to view...
A con artist telephones an employee, pretends to be from his own organization's IT unit, and says he must have the employee's password to fix a problem. This is an example of _____.
A. social pathology B. data encryption C. social engineering D. data mining
Which of the following is true of a franchise agreement?
A) A franchise application is not necessary to qualify for entering into a franchise agreement. B) The Uniform Franchise Offering Circular (UFOC) sets forth the terms and conditions of the franchise agreement. C) The terms and conditions of the franchise agreement must always be first drawn by the franchisee. D) A franchisee can only obtain a license to use the franchisor's intellectual property after entering into a franchise agreement.
The percentage of a decedent's estate that a spouse can claim is called a forced share.
Answer the following statement true (T) or false (F)
When the real interest rate is low, there are greater incentives to borrow and fewer incentives to lend
Indicate whether the statement is true or false