If Net Sales Are $800000 and Cost of Goods Sold

question 168

True/False

If net sales are $800000 and cost of goods sold is $600000 the gross profit rate is 25%.

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Definitions:

Market Rate

The current price or interest rate at which goods, services, or securities are bought and sold in a competitive marketplace.

Bond Selling Price

The market price at which a bond is traded, which may be above (premium) or below (discount) its face value.

Par Value

The nominal or face value of a security or currency, as stated by the issuer.

Market Rate

The current price or rate at which goods, services, or securities are traded in the open market.