A company can improve its profit margin by increasing its gross profit margin.

A) True

B) False

Gross profit is NOT presented on the single-step income statement.

A)True

B)False

As an incentive for customers to pay their accounts promptly, a business, in certain industries, may offer its customers

A) a quantity discount.

B) a sales discount.

C) free delivery.

D) a sales allowance.

Using a perpetual inventory system, if Splish Brothers Harness Shop accounting records show an ending inventory balance of $43700 and a physical count shows a balance of $45700, it is necessary to

A) credit Purchase Returns and Allowances.

B) purchase additional inventory.

C) debit its inventory records to adjust to actual.

D) credit sales.