A company made net sales revenue of $500,000, and cost of goods sold totaled $300,000. Calculate its gross profit percentage.
A) 40%
B) 60%
C) 125%
D) 325%
A) 40%
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Cost behavior is defined as the manner in which costs respond to changes in volume or activity
Indicate whether the statement is true or false
Imogene takes her diamond solitaire ring to Sparkle Jewelry Shop to have the prongs holding the diamond retipped and have the ring cleaned. The clerk at Sparkle says she will have to leave the ring and that it should be ready in about a week. When Imogene returns in a week to get her ring, she finds out that the ring has been sold. Which of the following is true?
a. Sparkle Jewelry Shop had the power to transfer all of Imogene's rights in the ring to a good faith buyer in the ordinary course of business. b. This situation was a theft of the ring by Sparkle, and Sparkle must retrieve the ring and return it to Imogene. c. The buyer of the ring must return it to Imogene since the buyer did not fully investigate whether Sparkle had good title to the ring. d. Imogene has lost title to her ring and has no recourse since she is responsible for investigating the merchant's integrity before leaving her property.
A letter of credit is a promise by a buyer's bank to pay the seller, provided certain conditions are met
a. True b. False Indicate whether the statement is true or false
One PERT/COST assumption is that money is spent at a constant rate over the time taken to complete an activity
Indicate whether the statement is true or false