If Costs of Goods Sold Is $560,000 and Its Gross

question 54

Multiple Choice

If costs of goods sold is $560,000 and its gross profit rate is 20%,what is the gross profit?

• A)$140,000
• B)$ 70,000
• C)$120,000
• D)$112,000

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Definitions:

Nonprogrammed Decisions

Decisions that are unique, require custom solutions, and are typically made in response to situations that are novel, unstructured, and not anticipated.

Programmed Decisions

Decisions that are routine and repetitive, often automated, and based on established policies or procedures.

Decision Rules

Guidelines or criteria used to select from among alternatives in decision-making processes, often simplifying the evaluation of options.

Computer Analyses

The process of examining data using computer programs to discover information, make decisions, or solve problems.