Multiple Choice
A company earned $2,000 in net income for October. Its net sales for October were $10,000. Its profit margin is:
A) 2%.
B) 20%.
C) 200%.
D) 500%.
E) $8,000.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q68: Discuss how accrual accounting enhances the usefulness
Q177: The main purpose of adjusting entries is
Q179: Assuming prepaid expenses are originally recorded in
Q181: A company made no adjusting entry for
Q183: Which of the following statements is incorrect?<br>A)
Q185: Harrow Co. is a multi-million business. The
Q186: On October 1 of the current year,
Q187: Two accounting principles that are relied on
Q199: Adjusting is a three-step process (1) _,
Q211: _ revenues are liabilities requiring delivery of