Which of the Following Statements Regarding Gross Profit (Margin)is True

question 98

Multiple Choice

Which of the following statements regarding gross profit (margin) is true?

• A) Gross margin is net sales minus cost of goods sold.
• B) A company sells $10,000 of goods. The gross profit percentage is 32%. Net income would be $3,200.
• C) Gross profit is recorded by a credit to the gross profit account.
• D) If net sales are $100 and cost of goods sold is $50 then the gross profit percentage is 100%.

---

Definitions:

Genital Warts

A common sexually transmitted infection caused by certain types of human papillomavirus (HPV), resulting in fleshy growths on the genitals.

Human Papillomavirus (HPV)

A group of viruses that can cause genital warts and are associated with the development of various cancers, particularly cervical cancer.

Cervical Cancer

A type of cancer that occurs in the cells of the cervix - the lower part of the uterus that connects to the vagina.

Anal Cancer

A type of cancer that occurs in the tissues of the anus, characterized by symptoms like rectal bleeding, pain, or lumps in the anal area.