Which of the following statements is true with regard to the gross profit ratio? . An increase
Question:
Which of the following statements is true with regard to the gross profit ratio?
. An increase in the gross profit rate may indicate that a company is efficiently managing its inventory.
. An increase in cost of goods sold would increase the gross profit rate (assuming sales remain constant).
. An increase in selling expenses would lower the gross profit rate.
a. 1
b. 2
c. 1 and 2
d. 1 and 3
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Related Book For
Cornerstones Of Financial Accounting Current Trends Update
ISBN: 9781111527952
1st Edition
Authors: Jay Rich , Jeff Jones, Maryanne Mowen , Don Hansen
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