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    Financial Accounting Tools Study Set 4
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    Exam 5: Merchandising Operations and the Multiple-Step Income Statement
  5. Question
    The Gross Profit Rate Is Computed by Dividing Gross Profit
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The Gross Profit Rate Is Computed by Dividing Gross Profit

Question 30

Question 30

Multiple Choice

The gross profit rate is computed by dividing gross profit by


A) sales revenue.
B) cost of goods sold.
C) net sales.
D) operating expenses.

Correct Answer:

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