Net Income Divided by Sales Is the Correct Formula for Calculating

question 159

Multiple Choice

Net income divided by sales is the correct formula for calculating:

• A) return on assets.
• B) the current ratio.
• C) the quick ratio.
• D) profit margin on sales.
• E) gross margin.

Analyze the artistic composition of Benin brass plaques.

Recognize materials used in African royal art and their cultural significance.

Identify significant animal symbolism in African art.

Understand the impact of European contact on African art and culture.

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Definitions:

Period

A specific duration of time used for financial reporting and analysis, typically a fiscal quarter or year.

Cost of Goods Sold

Direct expenditures linked to the creation of goods sold by a business.

Calculate

To determine something mathematically, such as a sum, total, or other numeric value.

Period

A length of time in financial accounting, often used to report earnings or track expenses, such as a quarter or fiscal year.