Answered step by step
Verified Expert Solution
Question
1 Approved Answer
32. Company X has net sales revenue of $780,000. cost of goods sold of 5343.200. and all other expenses of $327,600. The net profit margin
32. Company X has net sales revenue of $780,000. cost of goods sold of 5343.200. and all other expenses of $327,600. The net profit margin is closest to: A. 0.32. B. 0.56. C. 0.86. D. 0.14. 33. A company has 572,500 of inventory at the beginning of the year and 565.5(8) at the end of the year. Sales revenue is 5986.400. cost of goods sold is 5572.700. and net income is 5124,200 for the year. The inventory turnover ratio is closest to: A. 1.8. B. 8.3. C. 6.0. D. 14.3. 34. A company that has a current ratio less than one cannot cover: A. current liabilities with its current cash flow. B. current expenses with its current sales revenue. C. expenses with its current revenues. D. current liabilities with its current assets. 35. An increase in the gross profit percentage indicates that: A. cost of good, sold as a percentage of sales has decreased. B. cost of good. sold as a percentage of sales has increased. C. operating expenses as a percentage of sales have increased. D. operating expenses as a percentage of sales have decreased. 36. A current ratio of 2.5 means that for every dollar of: A. accounts payable, there is $2.50 of cash. B. current liabilities, there is $2.50 of current assets. C. current assets, there is $2.50 of current liabilities. D. total liabilities, there is $2.50 of cash
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started