Tell Whether the Following Statement Is Correct; If It Is

question 7

Essay

Tell whether the following statement is correct; if it is not correct, explain the problem."60% of the voters were in favor of Issue 1.That means 40% of them must have opposed it."

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Definitions:

Investment Center

A business unit or segment within an organization that is responsible for its own revenues, expenses, and investments in assets.

Gross Profit

The difference between revenue and the cost of goods sold, indicating the efficiency of a company in managing its labor and supplies in the production process.

Income Statement

A financial statement that shows a company's revenues, expenses, and profits over a specific period of time.

Balance Sheet

A financial statement that presents a company's financial position at a specific point in time, showing assets, liabilities, and equity.