If a Company Has Sales Revenue of $630,000, Net Sales

question 79

Multiple Choice

If a company has sales revenue of $630,000, net sales of $600,000, and cost of goods sold of $390,000, the gross profit rate is

• A) 35%.
• B) 38%
• C) 62%.
• D) 65%.

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Definitions:

Antibiotics

Medicinal substances used to treat bacterial infections by killing or inhibiting the growth of bacteria.

Analgesics

Medications or substances used to reduce or eliminate pain.

Mucous Membranes

Moist tissue lining several parts of the body such as the nose, mouth, throat, and lungs, that secrete mucus.

Polyps

Abnormal growths of tissue that protrude from mucous membranes, commonly found in the colon, nose, or uterus.