Shelcal,Inc.provides the Following Data for the Year 2017

question 14

Multiple Choice

Shelcal,Inc.provides the following data for the year 2017:

The cost of goods sold as a percentage of net sales revenue is ________.(Round your answer to two decimal places. )

• A)62.45%
• B)62.58%
• C)61.90%
• D)62.24%

---

Definitions:

Balance Sheet

A record presenting a business's holdings, obligations, and investor equity at a distinct time.

Unclassified Balance Sheet

A simple format of a balance sheet where assets, liabilities, and equity are listed in a single column without categorizing them into subcategories.

Accounts

Accounts refer to the records of financial transactions, reflecting credits and debits in the financial statements of a business or an individual.

General Ledger

A complete record of all the financial transactions of a company, organized by accounts, which provides the data used to create financial statements.