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The accountant of Delta,Inc.failed to make an adjusting entry to record $6,000 of unearned service revenue that has now been earned.Assume the deferred revenue was initially recorded as a liability.Which of the following statements is true?
Profit Margin
A financial metric showing the percentage of revenue that exceeds the costs of goods sold, indicating the profitability of a company.
Payout Ratio
The proportion of earnings paid out to shareholders as dividends, typically expressed as a percentage of the company's total earnings.
Asset Turnover
A ratio indicating the effectiveness with which a firm employs its assets to generate sales.
Net Sales
This is the total amount of sales generated by a company after deducting returns, allowances for damaged or missing goods, and any discounts allowed.
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