If a Company Has Net Sales of $500,000 and Cost

question 184

Multiple Choice

If a company has net sales of $500,000 and cost of goods sold of $350,000, the gross profit percentage is

• A) 70%.
• B) 30%.
• C) 15%.
• D) 100%.

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Definitions:

Government Bodies

Organizations or agencies established by a government to perform specific tasks or functions on its behalf.

Charter of Rights and Freedoms

A fundamental document in Canada that protects individual rights and freedoms from the actions and policies of all levels of government and establishes the framework for the interpretation of laws.

Reasonable Apprehension

A perception or fear of bias or prejudice that appears fair or sensible to an unbiased observer.

Bias

A preconceived opinion or inclination that is not based on reason or actual experience, leading to unfair judgments or decisions.