A Gross Profit Margin of 30% Means That

question 97

Multiple Choice

A gross profit margin of 30% means that:

• A) for each dollar of sales, the company has a cost of goods sold of seventy cents.
• B) for each dollar of sales, the company has a gross profit of thirty cents.
• C) for each dollar of sales, the company has a cost of goods sold of thirty cents.
• D) both A and B are true.

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