A Company Shows the Following Balances What Is the Gross Profit Rate?
A) 34%
B) 46

question 85

Multiple Choice

A company shows the following balances: $$\begin{array} { l r } \text { Sales Revenue } & \$ 2,500,000 \\\text { Sales Returns and Allowances } & 400,000 \\\text { Sales Discounts } & 50,000 \\\text { Cost of Goods Sold } & 1,353,000\end{array}$$ What is the gross profit rate?

• A) 34%
• B) 46%
• C) 66%
• D) 54%

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Definitions:

Fundamental Concept

Basic or essential principles that form the foundation of a particular field or discipline.

More Expensive

A term used to describe goods or services that have a higher price tag compared to other alternatives or previous prices.

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