If a Company Has Net Sales of $134,000, Gross Profit

question 98

True/False

If a company has net sales of $134,000, gross profit of $48,000, and $14,000 net income. The gross profit percentage would be approximately 36%.

---

Definitions:

Representational Ability

The cognitive skill to use symbols or signs to stand for objects, actions, or ideas, facilitating communication and abstract thinking.

Habituation

The process by which an individual becomes accustomed to a stimulus, leading to a decrease in response over time.

Visual-recognition Memory

The ability to remember and recognize previously encountered objects or individuals by sight.

Cross-modal Transference

The ability to transfer information acquired through one sensory modality to another.