If an Operation Achieved $20,000 in Sales in an Accounting

question 28

True/False

If an operation achieved $20,000 in sales in an accounting period and had a cost of food sold of $5,000 in the same period, the operation's food cost percentage for the period is 40%.

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Definitions:

Chinese Yuan

The official currency of the People's Republic of China, often used in trade and valuation.

Devalues

The reduction in the value of something, especially a currency.

US Exporters

Companies or entities based in the United States that sell goods or services to customers in other countries.

Price Level

A median calculation of the present prices for a broad range of goods and services in the economy.