menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Financial Accounting Study Set 24
  4. Exam
    Exam 7: Reporting and Interpreting Cost of Goods Sold and Inventory
  5. Question
    The Gross Profit Percentage Is Computed by Taking Operating Profit
Solved

The Gross Profit Percentage Is Computed by Taking Operating Profit

Question 80

Question 80

True/False

The gross profit percentage is computed by taking operating profit divided by net sales.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q32: An effective control activity results when at

Q75: Cash equivalents typically include investments with original

Q76: What do credit terms of 2/10, n/30

Q77: The gross profit percentage measures the ability

Q78: Robertson's Toy World sells a variety of

Q79: Prior to the write off of a

Q81: School Supplies Company made the following journal

Q84: The records of Topper. Ltd. show the

Q85: Finn Company has just received its June

Q96: The allowance method of accounting for bad

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines