If a Company Has $115,000 Net Sales, $65,000 in Gross

question 16

True/False

If a company has $115,000 net sales, $65,000 in gross profit, and $12,000 in net income, the net income percentage would be approximately 57%.

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Definitions:

Eighteenth Amendment

A U.S. Constitutional amendment enacted in 1919 that prohibited the manufacture, sale, and transportation of alcoholic beverages, later repealed by the Twenty-first Amendment.

Temperance Movement

A social and political movement advocating for the moderation or complete abstinence from alcoholic beverages, often tied to moral, religious, or health concerns.

Alcohol Abuse

The excessive and harmful consumption of alcohol leading to negative health, social, and legal consequences.

Mentally

Pertaining to the mind or psychological processes of an individual.