The Gross Profit Margin Is Calculated by Dividing Gross Profit

question 152

Multiple Choice

The gross profit margin is calculated by dividing gross profit by

• A)Sales.
• B)cost of goods sold.
• C)sales.
• D)operating expenses.

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Definitions:

Designated Personnel

Individuals who are specifically chosen or assigned to carry out particular tasks or responsibilities.

Cash Receipts

The actual money received during a given period, including all forms of payment such as cash, checks, and credit card payments.

Establishment Of Responsibility

An accounting principle that ensures specific duties are assigned to individuals to increase accountability and prevent errors and fraud.

Treasurer

A treasurer is an officer of a company or organization responsible for managing financial operations, including investment, risk management, and corporate finance.