All of the Following Statements Regarding the Gross Profit Ratio

question 97

Multiple Choice

All of the following statements regarding the gross profit ratio are true except:

• A) Managers, investors, and creditors use the gross profit ratio to measure one aspect of profitability.
• B) The gross profit ratio alone is sufficient to determine a company's profitability.
• C) If a company's net sales were $200,000 and cost of goods sold were $120,000, its gross profit ratio would be 40%.
• D) The gross profit ratio explains how many cents on every dollar are available to cover
• Expenses other than cost of goods sold and to earn a profit.

Acquire strategies for effective use of phone communications in business, including planning and closing conversations.

Learn the etiquette of business gatherings and understand the sequence of social and business interactions in meetings or dinners.

Understand the cultural dimensions of communication, including greetings, customs, and etiquette across different cultures.

Gain insights into online communication etiquette and the importance of focused and respectful online interactions.

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Definitions:

Influence

The capacity or power of individuals or groups to effect change or impact the beliefs, behaviors, or actions of others.

Communication

The exchange of information or news between people, through speaking, writing, or using some other medium.

Goal

A desired result or outcome that a person or system envisions, plans, and commits to achieve.

Self-Directed Work Teams

Groups of employees who are given the autonomy to plan and execute their own tasks, often responsible for a complete business operation or process.