Multiple Choice
Which of the following statements regarding gross profit percentage is not correct?
A) It is possible for a company to increase both its gross profit percentage and net income without increasing the dollar amount of sales.
B) A decreasing gross profit percentage means that the company is selling products for a greater markup over its cost.
C) The gross profit percentage measures the percentage of profit earned on each dollar of sales.
D) Gross profit percentages vary across industries.
Correct Answer:
Verified
Correct Answer:
Verified
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