A Company Had Net Sales of $752,000 and Cost of Goods

question 130

Multiple Choice

A company had net sales of $752,000 and cost of goods sold of $543,000.Its net income was $17,530.The company's gross margin ratio equals:

• A)18.9%
• B)24.5%
• C)27.8%
• D)34.7%
• E)35.2%

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Definitions:

Variable Time Interval

A schedule in operant conditioning where reinforcement is provided after varying intervals of time.

Variable Ratio Schedule

A reinforcement schedule in operant conditioning where a response is rewarded after an unpredictable number of responses.

Fixed Ratio Schedule

A reinforcement schedule in behavioral psychology where a response is reinforced only after a specified number of responses.

Variable Interval Schedule

A reinforcement schedule in operant conditioning where a response is rewarded after an unpredictable amount of time has passed.