Multiple Choice
Match the items below by choosing the appropriate code letter .
-Gross profit divided by net sales.
A) Net sales
B) Cash discount
C) Credit terms
D) Periodic inventory system
E) Gross profit ratio
F) Contra revenue
G) Freight-out
H) Gross profit
I) Sales invoice
J) Business activity statement
K) Input tax credit
L) Purchase discount
Correct Answer:

Verified
Correct Answer:
Verified
Q5: Match the items below by choosing the
Q6: The journal entry to record a credit
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Q8: Match the items below by choosing the
Q9: Match the items below by choosing the
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Q12: The Sales returns and allowances account is
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Q14: Which of the following does not affect
Q15: Match the items below by choosing the