Making Moves Has the Following Data Available

question 41

Multiple Choice

Making Moves has the following data available.
Sales $800 000
Selling expenses 160 000
Profit 320 000
Using vertical analysis,express selling expenses as a percentage of the base amount.

• A)60%
• B)50%
• C)20%
• D)15%

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Definitions:

Parol Evidence

Oral or verbal evidence that is not included in the written contract, often discussed in the context of disputes about what the parties agreed upon.

Written Contract

A legally binding agreement that has been formulated in writing and signed by the parties involved.

Parol Evidence

A rule in contract law that prevents parties from presenting extrinsic evidence to alter or add to the terms of a written agreement.

Insurance Claim

A formal request by a policyholder to an insurance company for coverage or compensation for a covered loss or policy event.