Solved

Using Vertical Analysis on the Income Statement, a Company's Profit

Question 37

True/False

Using vertical analysis on the income statement, a company's profit as a percentage of net sales is 15%; therefore, the cost of goods sold as a percentage of net sales must be 85%.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q31: Best Baskets Limited (BBL) had a current

Q33: Use the following information for questions <br>During

Q34: A company has a receivables turnover ratio

Q36: All of the following profitability ratios relate

Q38: If a company has sales of $100

Q39: The inventory turnover ratio is a measure

Q45: The current ratio is<br>A)calculated by dividing current

Q72: Which one of the following ratios would

Q108: A component of an entity, for the

Q127: A general rule to use in assessing