Given the Following Data: Sales $1,500,000; Gross Profit $640,000; Net

question 87

Multiple Choice

Given the following data: sales $1,500,000; gross profit $640,000; net income $40,000 and income tax expense $35,000. What is the common-size percentage for operating expenses?

• A) 37.7%
• B) 42.7%
• C) 95.0%
• D) 97.3%

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Definitions:

Atomic Statements

The simplest type of statement that cannot be broken down into smaller statements, often representing a single fact or assertion.

Main Components

The primary or fundamental parts of a system, structure, or principle that are essential for its operation or understanding.

Connectives

Connectives, in logic, are operators that link propositions or terms, thereby constructing more complex expressions whose truth values depend on those of the original components.

Main Connective

In logic, the operator that determines the truth value of a complex proposition based on its component parts.