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3 years ago

Which of the following statements is TRUE with regard to gross margin?

Business

1 answer:

Naddik [55]3 years ago

7 0

ANSWER: (A)

EXPLANATION: Gross margin is the difference between revenue and cost of goods sold divided by revenue. Gross margin is expressed as a percentage. Generally, it is calculated as the selling price of an item, less the cost of goods sold. Gross Margin is often used interchangeably with Gross Profit, but the terms are different.

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Determine which revision of each the following sentences provides the most clarity.

zhenek [66]

Answer:

Explanation:

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3 years ago

Review the transactions and determine the accounts, the account types (use assets, liabilities, common stock, dividends, revenue

wariber [46]

Answer:

Accounting treatment (debit credit rules) of given entries

Explanation:

Purchased office furniture on account Account

Furniture ie Asset increase - Debit , Creditor (Furniture Supplier) ie Liability increase - Credit

Provided services on account

Debtor ie Asset increase - Debit , Sale ie Income increase - Credit

Prepaid Rent

Prepaid Expense (Rent) ie Asset Increase - Debit. Rent paid now implies later rent ie (Expense) decrease - Credit

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3 years ago

_________ are used in place of writing checks. The amount you spend using this card will be deducted from your checking account.

vovangra [49]

Debit cards have replaced check writing in many ways. This is because debit cards, like checks, will take the money directly from your bank account. Unlike credit cards, you must have the money in your account for you to use your debit card. Credit cards allow you to "borrow" money and pay it back later.

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3 years ago

Read 2 more answers

g A joint product is: Select one: a. Any product which consists of several parts. b. Any product produced by a company with more

mr_godi [17]

Answer:

The correct answer is letter "D": One of several products produced from a common input.

Explanation:

Joint products are those manufactured by large companies whose production process is the same at an early stage for all the different products being produced, but at a certain stage, called a split-off, the products begin to have their own characteristics.

Since the products initially come from the same input, the costs are allocated in the bundle. After the split-off, the cost of production is allocated to each type of product.

8 0

3 years ago

eBook Problem Walk-Through Byron Books Inc. recently reported $12 million of net income. Its EBIT was $28.6 million, and its tax

snow_lady [41]

Answer:

Earnings Before Tax (EBT) = $16,000,000

Interest expense = $12,600,000

Explanation:

Earnings Before Tax (EBT) = Net Income / (1 - Tax Rate)

Earnings Before Tax (EBT) = $12,000,000 / ( 1 - 0.25)

Earnings Before Tax (EBT) = $12,000,000 / 0.75

Earnings Before Tax (EBT) = $16,000,000

Interest expense = Earnings Before Interest and taxes (EBIT) - Earnings Before taxes (EBT)

Interest expense = $28,600,000 - $16,000,000

Interest expense = $12,600,000

Income Statement

Details Amount

EBIT $28,600,000

Less: Interest expenses <u>$12,600,000</u>

EBT $16,000,000

Tax at 25% <u>$4,000,000</u>

Net Income $12,000,000

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3 years ago