Gross Margin = Sales Price - Cost of Goods Sold

question 20

True/False

Gross margin = sales price - cost of goods sold.

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Definitions:

Employ Employees

The act of hiring individuals to perform services or tasks for compensation.

Partnership Business

An officially recognized form of enterprise undertaken by two or more participants, who equally manage the business and its profits.

Agent

A person authorized to act on behalf of another, often in business transactions.

Employee

An individual who provides labor or services to another person or business in exchange for compensation under agreed terms.