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INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
Students borrowing to pay for college should base the amount borrowed on [ current income | expected future salary ].
Gross Margin Ratio
A financial metric that demonstrates the proportion of revenue that exceeds the cost of goods sold, expressed as a percentage.
Net Sales
The total revenue from goods or services sold by a company, after deducting returns, allowances for damaged or missing goods, and discounts.
Cost of Goods Sold
The direct costs attributable to the production of the products sold by a company, including material and labor costs.
Net Income
The total earnings of a company after subtracting all expenses, including taxes and operational costs.
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