Mega Skateboard Supplier had net sales of $2.8 million, its cost of goods sold was $1.6 million, and its net income was $0.9 million. Its gross margin ratio equals:
A) 32%.
B) 175%.
C) 43%.
D) 57%.
E) 56%.
C) 43%.
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When people keep money for some period instead of spending it or investing it, money is serving the role of a
A. medium of exchange. B. unit of account. C. store of value. D. standard of deferred payment.
Why would companies want to use digital signatures when conducting e-business?
A. They are cheap. B. They can authenticate the document sender and maintain data integrity. C. They are always the same so it can be verified easily. D. They are more convenient than requiring a real signature.
According to the FASB's conceptual framework, the process of reporting an item in the financial statements of an entity is
a. realization. b. recognition. c. matching. d. allocation.
In compensation, a ______ is a lump sum payment, typically given to an individual at the end of a time period.
A. bonus B. merit C. perquisites D. variable pay