Multiple Choice
Which of the following statements is false?
A) Gross profit percentage is calculated as gross profit divided by net sales.
B) Gross profit should only be viewed for each reporting company and is not useful in comparing different companies in the same industry.
C) Gross profit is calculated as net sales less cost of sales.
D) A higher gross profit might be strategic in order to afford high research and development costs.
Correct Answer:
Verified
Correct Answer:
Verified
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