A merchandising business will earn an income before income taxes of exactly $0 when
a. net sales equals cost of goods sold.
b. operating expenses equal net sales.
c. gross margin equals operating expenses.
d. cost of goods sold equals gross margin.
C
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Firms are more capable than markets at coordinating highly complex tasks, while markets are more capable of providing high-powered incentives for entrepreneurship.
Answer the following statement true (T) or false (F)
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a. True b. False Indicate whether the statement is true or false
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What will be an ideal response?