Which of the Following Statements Is Correct

question 41

Multiple Choice

Which of the following statements is correct?

• A)When cost of goods sold as a percentage of sales increases,the gross profit percentage will increase.
• B)It is possible that when cost of goods sold in dollars increases,cost of goods sold as a percentage of sales decreases.
• C)If gross profit percentage is the same for the current and past year,then sales and cost of goods sold in dollars did not change.
• D)If gross profit percentage increases from one year to the next,then the net income percentage will also increase from one year to the next.

Analyze the impact of price changes on break-even quantity and business strategy.

Evaluate the financial viability of attending events or making decisions based on cost-benefit analysis.

Understand the conditions under which a firm should consider shutting down in the short run and long run.

Identify and explain the significance of average variable costs, average costs, and price in the decision-making process of shutting down.

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