Financial Information Is Presented Below The Profit Margin Would Be
A)$36

question 95

Multiple Choice

Financial information is presented below: $$\begin{array} { l r } \text { Operating expenses } & \$ 42,000 \\\text { Sales returns and allowances } & 12,000 \\\text { Sales discounts } & 3,000 \\\text { Sales revenue } & 165,000 \\\text { Cost of goods sold } & 96,000\end{array}$$ The profit margin would be

• A)$36.
• B)$18.
• C)$06.
• D)$08.

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Definitions:

Implied Warranty

A legal assumption that a product will meet certain standards of quality and reliability without being explicitly stated.

Contract

A legally binding agreement between two or more parties that outlines obligations and rights.

Implied Warranty of Fitness

A legal guarantee that goods sold will meet the specific purpose for which the buyer is purchasing them, even if not explicitly stated.

Implied Warranty of Merchantability

A legal presumption that a product sold will meet the buyer's reasonable expectations of quality and functionality.