In 2012, Smith's Corner Store Had an Increase in Gross

question 40

Multiple Choice

In 2012, Smith's Corner Store had an increase in gross margin of $28,000; however, the gross margin percentage decreased.This is most likely caused by:

• A)a decrease in volume and a decrease in selling price
• B)an increase in volume and an increase in selling price.
• C)an increase in volume and a decrease in selling price.
• D)a decrease in volume and an increase in selling price.

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Definitions:

Time-Driven

An approach where processes or decisions are based on specified durations or schedules, often to improve efficiency or productivity.

Activity-Based Costing

A costing method that assigns overhead and indirect costs to specific products or services based on their use of activities, improving costing accuracy.

Customer Service

The assistance and advice provided by a company to those people who buy or use its products or services.

Time-Driven

A method or process that is organized or activated based on specific time intervals or schedules.