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The Gross Profit Percentage Is Computed by Taking Operating Profit

question 80

True/False

The gross profit percentage is computed by taking operating profit divided by net sales.


Definitions:

GDP

Gross Domestic Product, which is the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period.

GDP

Gross Domestic Product; the total market value of all final goods and services produced within a country in a given period.

Gross Domestic Product

A measure of the economic performance of a country, calculating the total value of all goods and services produced within its borders in a specific period.

Inputs and Outputs

The resources used in the production process (inputs) and the goods or services produced (outputs).

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