If a Company Has Net Sales of $700,000 and Cost

question 137

Multiple Choice

If a company has net sales of $700,000 and cost of goods sold of $455,000, the gross profit percentage is

• A)25%.
• B)35%.
• C)65%.
• D)100%.

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Definitions:

Exports

Exports refer to the goods or services sold by a country to foreign markets, which is a fundamental component of international trade.

Domestic Consumers

Individuals within a country who purchase goods and services for personal use.

Domestic Producers

Businesses or individuals that manufacture or produce goods within a country's borders.

Imports

Items or services transferred from one nation to another with the intention of selling or using them.