A Company Shows the Following Balances What Is the Gross Profit Rate?
A) 53%
B) 60

question 147

Multiple Choice

A company shows the following balances: $$\begin{array} { l r } \text { Sales Revenue } & \$ 800,000 \\\text { Sales Returns and Allowances } & 75,000 \\\text { Sales Discounts } & 25,000 \\\text { Cost of Goods Sold } & 420,000\end{array}$$ What is the gross profit rate?

• A) 53%
• B) 60%
• C) 40%
• D) 47%

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Definitions:

Collective Good

the benefit or interests of all involved in a given community or society, often pursued through cooperative efforts and altruism.

Recognize Good

The ability to identify and appreciate positive aspects or moral goodness in situations or in the behavior of others.

Positive Trait

An enduring quality in a person that is regarded as beneficial or leads to positive outcomes.

Gratitude

Recognizing and concentrating on the good things in one’s life and being thankful for them.