In the Clark Company, Sales Were $480,000, Sales Returns and Allowances

question 209

Multiple Choice

In the Clark Company, sales were $480,000, sales returns and allowances were $30,000, and cost of goods sold was $270,000. The gross profit rate was

• A) 60%.
• B) 40%.
• C) 38%.
• D) 56%.

---

Definitions:

Network Fails

Refers to instances when a network encounters errors or problems that prevent it from functioning correctly.

Binary Form

Binary Form is a way of structuring a piece of music in two related sections, both of which are usually repeated. This term is also used in computing to describe data represented in two states such as 0 and 1.

ALU

Arithmetic Logic Unit; a component of a computer processor that performs arithmetic and logical operations.

Eight-Byte String

A sequence of data consisting of eight bytes, which can represent a variety of data types, including characters or numerical values.