Thompson's 2013 Gross Profit Ratio Is

question 73

Multiple Choice

Thompson's 2013 gross profit ratio is:

• A)25%.
• B)19%.
• C)20%.
• D)None of the above is correct.

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Definitions:

Outstanding Voting

Refers to the shares of a corporation that have voting rights and are currently held by shareholders, not the company itself.

Initial Value Method

An accounting approach where investments are recorded at their original cost without subsequent adjustment for changes in value.

Intra-entity Gross Profit

The profit recognized on transactions within different parts of the same company.

Consolidation Worksheet

A financial tool used to merge and organize the financial information of parent and subsidiary companies for reporting purposes.