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Determine Gross Profit of a Venture with the Following

Question 69

Multiple Choice

Determine gross profit of a venture with the following
Financial information: cost of goods sold = $30,000; net profit = $17,000; asset turnover = 1.6; return on assets 32%


A) $85,000
B) $72,000
C) $55,000
D) $38,000

Correct Answer:

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