Multiple Choice
Lansing Company has a gross profit percentage of 61%,while Arbor Company has a gross profit percentage of 37%.Which of the following statements is correct?
A) Lansing Company will report a higher net income than Arbor Company.
B) Arbor Company must have a greater sales volume than Lansing Company.
C) Lansing Company is more efficient at controlling selling,general,and administrative expenses than Arbor Company.
D) Lansing Company and Arbor Company both earn enough on each sale to make a contribution to their operating costs.
Correct Answer:
Verified
Correct Answer:
Verified
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