The gross profit ratio is calculated as gross profit divided by net income
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
Which of the following best describes the term "retained earnings"?
a. The amount of total profits earned by a business since it began operations. b. The amount of interest or claim that the owners have on the assets of the business. c. The future economic resources of a business entity. d. The cumulative profits earned by the business less any dividends distributed.
Robichau Inc. reported the following results from last year's operations: Sales$6,300,000Variable expenses 4,930,000Contribution margin 1,370,000Fixed expenses 803,000Net operating income$ 567,000Average operating assets$3,000,000At the beginning of this year, the company has a $900,000 investment opportunity with the following characteristics: Sales$1,530,000 Contribution margin ratio 30% of salesFixed expenses$306,000 The company's minimum required rate of return is 20%.The residual income for this year's investment opportunity when considered alone is closest to:
A. $153,000 B. ($27,000) C. $179,100 D. $0
Miranda understands that sometimes people work on a task because they find it interesting and not because of an external reward they may receive. Miranda understands the concept of ______.
A. social learning B. operant conditioning C. intrinsic motivation D. extrinsic motivation
Like many taxes deducted from employee earnings, federal income taxes is subject to a maximum amount per employee per year
Indicate whether the statement is true or false