Calculate Gross Profit Ratio Given the Following Information: Accounts Receivable

question 326

Multiple Choice

Calculate gross profit ratio given the following information: accounts receivable = $3,500; inventory = $4,500; receivable turnover = 80 times; inventory turnover = 18 times.

• A) 70%
• B) 71%
• C) 72%
• D) 73%
• E) 74%

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Definitions:

Plan of Care

A comprehensive, structured approach to treating a patient that outlines the interventions and expected outcomes for their health issues.

Individualize

To tailor or adapt something to suit the specific needs or characteristics of an individual.

Involve

To include or engage someone or something as a part of a process or activity.

Nursing Process

A systematic approach to patient care that involves assessment, diagnosis, planning, implementation, and evaluation, used by nurses to ensure efficient and effective healthcare delivery.